Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Market
Sales of Existing Homes Slip In June
WASHINGTON (7/23/13)--U.S. existing-home sales declined in June, but have stayed well above year-ago levels for the past two years. Also, the median price shows seven consecutive months of double-digit year-over-year increases, according to the National Association of Realtors (NAR).
 
Total existing-home sales--which are completed transactions that include single-family homes, townhomes, condominiums and co-ops--dipped 1.2% to a seasonally adjusted annual rate of 5.08 million in June from a downwardly revised 5.14 million in May. However, they are 15.2% higher than the 4.41 million-unit level in June 2012.   
 
There is enough momentum in the market, even with higher interest rates, said Lawrence Yun, NAR chief economist. "Affordability conditions remain favorable in most of the country, and we're still dealing with a large pent-up demand," he added. "However, higher mortgage interest rates will bite into high-cost regions of California, Hawaii and the New York City metro area market."    
 
To read the NAR release, use the link.
RSS print
News Now LiveWire
Large CU stress testing on the agenda for the April @theNCUA open meeting http://t.co/2TUcnmCmPi
1 Day ago
#FinancialLiteracyMonth Test your college financial aid knowledge @nasfaa http://t.co/xgrDmHaw8W
1 Day ago
Join @theNCUA #NCUAchat with @KenWortheyJr on April 23 from 11am to 12pm EST http://t.co/TnNmfFh4Nl #FinancialLiteracyMonth
1 Day ago
Maine's patent troll bill has become law. Read more in Monday in @NewsNowLiveWire
1 Day ago
Wash. DFI discusses serving legal marijuana businesses with @NWCUA http://t.co/3kw79HJUYF
1 Day ago