admin | March 4, 2008
Hi - Here is your daily update on Clearwater real estate. We are working with many buyers - most are looking for a great real estate deal.
This just in from the National Association of Realtors..
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2007 HOME SALES FIFTH HIGHEST ON RECORD
Existing home sales declined in December following several months of stable activity.
Even so, total sales in 2007 were the fifth highest on record, NAR says. Total existing home
sales, including single-family, townhomes, condominiums and co-ops, slipped 2.2 percent to
a seasonally adjusted annual rate of 4.89 million units in December from a pace of 5 million
in November. For all of 2007 there were 5,652,000 existing-home sales, the fifth highest year
on record. Lawrence Yun, NAR chief economist, says the market is experiencing uncharacteristic weakness. "Home sales remain weak despite improved affordability conditions in many parts of the country, but we could get a quick boost to the market if loan limits are raised in combination with the bold cut in the Fed funds rate," he says. "Home prices are lower, mortgage interest rates continue to decline and incomes are higher, but many potential buyers are delaying a purchase."
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Visit our websites at Clearwater real estate and Florida real estate
This just in from the National Association of Realtors..
------------
2007 HOME SALES FIFTH HIGHEST ON RECORD
Existing home sales declined in December following several months of stable activity.
Even so, total sales in 2007 were the fifth highest on record, NAR says. Total existing home
sales, including single-family, townhomes, condominiums and co-ops, slipped 2.2 percent to
a seasonally adjusted annual rate of 4.89 million units in December from a pace of 5 million
in November. For all of 2007 there were 5,652,000 existing-home sales, the fifth highest year
on record. Lawrence Yun, NAR chief economist, says the market is experiencing uncharacteristic weakness. "Home sales remain weak despite improved affordability conditions in many parts of the country, but we could get a quick boost to the market if loan limits are raised in combination with the bold cut in the Fed funds rate," he says. "Home prices are lower, mortgage interest rates continue to decline and incomes are higher, but many potential buyers are delaying a purchase."
----
Visit our websites at Clearwater real estate and Florida real estate
Posted 2 years, 8 months ago on March 4, 2008
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