Sales of existing homes unexpectedly fell in January

Existing-home sales in the South dropped 1.0% to an annual rate of 2.08 million in January, down 8.4% from last year. The median price in the South was $214,800, up 2.5% from a year ago. Existing-home sales in the West declined 2.9% to an annual rate of 1 million in January, 13.8% below a year ago.

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Homes typically sold in 42 days, down from 50 days a year earlier 43 percent of homes sold in January were on market for less than a month. Existing home sales account for 90% of the market and are calculated when a contract closes.

In January 2008, there were 3.54 million homes for sale. Existing home sales unexpectedly rose in December as rock-bottom prices attracted some buyers in certain distressed markets.

The estimate of new houses for sale at the end of January was 301,000, representing 6.1 months of supply at the current sales rate. Last Wednesday, the National Association of Realtors released a separate report unexpectedly showing a significant decrease in existing home sales in January.

 · Sales of existing homes fell 2% to a seasonally adjusted annual rate of 6.76 million from a revised 6.90 million in March, the realtors group said. Sales are down 5.7% from a year ago.

US New home sales unexpectedly fall. The average sales price jumped to USD 394,300 in July from USD 372,400 a year earlier. The stock of new houses for sale went up 2 percent to 309 thousand, the most since March of 2009. This represents a supply of 5.9 months at the current sales rate.

Contracts to purchase previously owned U.S. homes unexpectedly fell in December by the. Economists consider pending sales a leading indicator because they track contract signings. Purchases of.

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"A significant breakout in existing home sales is unlikely this year." Existing home sales fell 0.4% to a seasonally adjusted annual rate of 5.19 million units last month. March’s sales pace was unrevised at 5.21 million units. Economists polled by Reuters had forecast existing home sales rising 2.7% to a rate of 5.35 million units in April.

U.S. home sales unexpectedly fell in April amid persistent weakness in the lower-priced segment of the market, which has experienced an acute shortage of properties. The National Association of Realtors said on Tuesday existing home sales fell 0.4% to a seasonally adjusted annual rate of 5.19 million units last month.

Sales of previously owned U.S. homes unexpectedly fell in January to a four-month low, indicating a shortage of available properties is increasingly hindering the real-estate industry, a National.

Manhattan homebuyers demand bargains, walk away – anything but overpay Queens came is second with 26,955 births followed by 21,258 babies born in the Bronx, 19,646 in Manhattan and 5,580 on Staten Island. There are almost as many babies born on Staten Island (5,580) as.