Sales of previously occupied homes fell in June
Posted by HardMoney in Hard Money News Friday, 23 July 2010 17:10 1 Comment
Sales of previously occupied homes fell in June
and are expected to keep sinking, indicating that the housing markets troubles are likely to drag on the economic recovery.
Sales fell 5.1 percent to a seasonally adjusted annual rate of 5.37 million, the national association of realtors said Thursday.
Since the tax credits expired, the number of people buying homes has fallen sharply, despite lower prices and the lowest mortgage rates in decades.
The situation has been worsened by high unemployment, tight lending standard and rising foreclosures.
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