May Shows a Continued Strong Pace for Existing-Home Sales
Washington, June 22, 2010
Existing-home sales remained at elevated levels in May on buyer response to the tax credit, characterized by stabilizing home prices and historically low mortgage interest rates, according to the National Association of Realtors®. Gains in the West and South were offset by a decline in the Northeast; the Midwest was steady.
Existing-home sales1, which are completed transactions that include single-family, townhomes, condominiums and co-ops, were at a seasonally adjusted annual rate of 5.66 million units in May, down 2.2 percent from an upwardly revised surge of 5.79 million units in April. May closings are 19.2 percent above the 4.75 million-unit level in May 2009; April sales were revised to show an 8.0 percent monthly gain.
— National Association of Realtors
Jeanine and Howard Metts
Metts Group at Future Home Realty
2653 McCormick Drive, Clearwater, FL 33759
Phone: 727-418-5224 or 727-631-4191