May 25, 2007
A tale of two housing markets
The market for new houses improved last month, while the market for existing homes dried up. New data from the Department of Commerce showed the sale of single-family homes in April increased to a seasonally adjusted rate of 981,000. The sales figures were 16.2 percent higher than the 844,000 homes sold in March, but 10.6 percent below the 1.1 million sold last April. Meanwhile, the National Association of Realtors said the tightening lending standards sent April sales of existing homes down 2.6 percent from March to an annual rate of 5.99 million units. That number is down significantly from the 6.71 million pace seen in April 2006. The median sale price of a new home sold in April stood at $229,100, while national median existing-home prices stood at $220,900.
WBJ Web Partners
Most Recent
Most Recent
0 Comments