Home Sales Up 17.9 Percent In Second Quarter
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Updated: April 17, 2007
According to the National Association of Realtors, twenty-eight states and the District of Columbia experienced declines.
The quarterly report on total state existing-home sales shows that the seasonally adjusted annual rate was 6.69 million units in the second quarter, down 7.0 percent from the record 7.19 million-unit level in the second quarter of 2005.
Regionally, the South reported an existing-home sales pace of 2.60 million units in the second quarter, down 4.2 percent from a year ago. After Arkansas and Texas, the next strongest increase in the South was in North Carolina, up 11.0 percent from the second quarter of 2005, while resales in South Carolina rose 9.0 percent; six other Southern states also posted sales gains.
According to Freddie Mac, the national average commitment rate on a 30-year conventional fixed-rate mortgage was 6.60 percent in the second quarter, up from 6.24 percent in the first quarter; it was 5.72 percent in the second quarter of 2005.
(Copyright 2006 Newsroom Solutions, LLC)
