The real story on real estate

Visit BusinessWeek Online -- Hot Property

Home sales up, but only slightly

Posted on June 26, 2008

Good news is a rare treat in this housing market. Today s National Association of Realtors report is at least mildly positive. It shows that existing home sales rose 2% in May to an annualized pace of 4.99 million compared to the April pace (But nearly 16% below May 2007 pace). Sales could be picking up, especially in states like Nevada, California and Arizona because investors, first-time buyers and others are jumping on the low prices available for foreclosed homes. But the sales increase is small and the monthly home sales pace has stayed pretty close to 5 million since the credit crisis ...

Original article link


existing home sales , housing