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OFFICIAL MAGAZINE OF THE NATIONAL ASSOCIATION OF REALTORS®



Market Pulse

Existing-Home Sales for June: 4.89 million
By Lawrence Yun September 2009

 

 

Existing-Home Sales for June:  4.89 million

 

This is a seasonally adjusted annual rate, which is the actual rate of sales for the month, multiplied by 12 and adjusted for seasonal sales differences.

 

Pending Home Sales Index for June: 94.6

 

This Index measures housing contract activity. An index of 100 is equal to the level of activity during 2001, the benchmark year.

 

Source: NAR Research

 

 

Solid Upturn Continues  

The pace of existing-home sales grew 3.6 percent in June to 4.89 million units, moving the sales upturn into its third consecutive month as buyers take advantage of low prices and affordable interest rates. NAR’s forward-looking Pending Home Sales Index is up for the fifth month in a row, suggesting the upturn could be sustained in the months ahead.

 

 

 

 

 

 

Seller Traffic a Bright Spot

Practitioners’ expectations for sales activity dipped in the last month but remain where they were in the spring, according to NAR’s most recent survey of REALTOR® confidence. Practitioners are most optimistic about sellers entering the market.

Results are based on 2,637 responses to 6,000 surveys sent to large and small real estate offices. The survey asks practitioners to indicate whether conditions are strong (100 points), moderate (50), or weak (0). Responses are averaged to derive results.

 

 


Lawrence Yun is chief economist of the NATIONAL ASSOCIATION OF REALTORS®.