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
@CFPB today finalized a rule to promote more effective privacy disclosures from financial institutions to their customers. Watch News Now
49 minutes ago
Four consumer rights you didn't have 40 years ago via @CreditExperts http://t.co/RwSocTG1q4
1 hours ago
Cascade Community #CreditUnion has granted 30 educators almost $6,000 in Chalkboard grants for the 2014-15 school year.
1 hours ago
#NewsNow Money: CUNA's Schenk talks interest rates, inflation http://t.co/JbQlDrXzM3
1 hours ago
Eric Richard, CUNA's general counsel, details legal/regulatory trends affecting CUs at CUNA Attorneys Conf. today. http://t.co/n7ZATxT4eM
2 hours ago