Existing-home sales plummet, big time
24 Aug
Posted by Andrew Kantor, Editor & Blogmaster []
According to NAR, sales of previously occupied homes fell more than 27 percent from June to July, the largest month-to-month drop on record. And they dropped to the lowest level in 15 years, more than 25 percent below their July 2009 level.Click here to read the full story at Realtor.org.
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4 Responses
Owner Financed Real Estate
26|Aug|2010 1Ouch. That’s not good news. Here in TX we aren’t doing too bad. I hope Virgina makes a rebound soon. It’s never a good feeling when you have record drops when things are supposed to be getting better.
Property Marbella
27|Aug|2010 2Hi Andrew,
I’m not surprised, The Tax Credit incentive from the Government did nothing more than expedite sales under April and May that would have most likely occurred anyhow sometime later in the autumn 2010 or early spring 2011.
Maui Realtor Alex Cortez
27|Aug|2010 3I agree with Marbella. Government intervention (via tax credit) rocked the market and instead of providing long-term stability resulted in a dud summer. Hoping the rest of the year rebounds (but not overly optimistic).
Jeff Divers
31|Aug|2010 4Year 2010 is ending, and the trend has not changed that much. With the economic crunch’s pressure ever increasing, we really need to exert more effort than just purely being optimistic.
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