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www.Refinance-Internet.com - Refinance Rates, Refinance Programs, Refinance Payments
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Housing Sales Down For Existing Homes But Up Sharply For New Construction |
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The news on Monday was not good. It looked, in fact, like the housing
boom was over and that was the thrust of a lot of the media headlines.
Not that a market crash seemed likely, but it did seem as though the housing
bubble had developed a tiny little leak.
The National Association of Realtors released its monthly report on the
sales of existing homes for the month of October and NAR figures showed a 'moderate'
decline in activity for both single family homes and condominiums. Total existing
home sales including single-family houses, condos, townhouses, and co-ops were
down 2.7 percent from September figures to a seasonally adjusted annual rate
of 7.09 million units. September sales had been at a rate of 7.29 million. This
rate still put sales 3.7 percent above the seasonally adjusted sales figures
for October last year.
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