According to the National Association of Realtors (NAR), existing-home sales resumed falling in June, sliding 2.6% from May across the country. The median home price was $215,100 in June, down 6.1% from $229,000 in June 2007. The median home price in May this year was $207,900. Home inventories also rose 0.2% at the end of June to 4.49 million available for sale, which represents a 11.1-month supply at the current national sales pace.
The country is still seeing slower home sales. With lending restrictions and guidelines getting tougher not easier this will continue to put pressure on existing home sales.
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