Home sales rise - while prices fall 17%, page 1
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Topic started on 23-6-2009 @ 10:46 AM by HunkaHunka

Home sales rise - while prices fall 17%


money.cnn.com
NEW YORK (CNNMoney.com) -- Existing home sales rose in May, as increasingly affordable home prices and a first-time tax credit attracted hesitant buyers.

The National Association of Realtors reported that existing home sales ticked up 2.4% last month to a seasonally adjusted annual rate of 4.77 million million units compared to the downwardly-revised rate of 4.66 million in April.

The sales missed expert forecasts of 4.82 million annual units, according to a consensus estimate of analysts compiled by Briefing.com, and are off 3.6% from the 4.95 million-unit pace 12 months ago.
(visit the link for the full news article)


reply posted on 23-6-2009 @ 12:07 PM by marg6043
reply to post by tatersalad


I agree, what the news fail to say is that many people are not getting the loans approved because they do not qualify for the loans, so now the calls for easing the lending practices (once again) to allow those that do not qualify (due to technicalities) get approval.

Then again isn't that type of thinking (technicalities that cause the market crash?).

Yeah, just give loans to anybody that wants them so the housing crisis starts to boom again.

Then wait another 10 years for the next housing bubble crash.



[edit on 23-6-2009 by marg6043]


reply posted on 23-6-2009 @ 12:12 PM by marg6043
reply to post by warrenb


Yes I forgot about the foreclosures, I was thinking more about the new build homes.

Now occurs for 100 dollars you can get a boom in some cities.


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