Sales of Existing Homes Fall in June

AP
Sales of Existing Homes Fall in June
Tuesday July 25, 10:03 am ET
By Martin Crutsinger, AP Economics Writer
Sales of Existing Homes Fall in June, More Evidence That Market Is Slowing


WASHINGTON (AP) -- Sales of existing homes fell in June for the eighth time in the past 10 months while home prices edged up at the slowest pace in more than a decade -- more signs that the housing market has slowed dramatically.
The National Association of Realtors reported Tuesday that sales of previously owned homes and condominiums dropped 1.3 percent in June to a seasonally adjusted annual rate of 6.62 million units.

The median price of a home sold last month was $231,000. That was up 0.9 percent from June 2005 and represented the smallest year-over-year price gain since May 1995.

Re: Sales of Existing Homes Fall in June

I would just add the Bloomberg.com predicted a slight increase in sales for the next six months in one article today. But that was just one, and they said slight.