Housing Mortgages Information

Existing Home Sales Advance. Concerns Over HVCC Growing

July 23, 2009 – 7:46 am First-time homebuyers and the sales of distressed properties helped drive the pace of Existing Home Sales up for the third consecutive month in June. Sales advanced 3.6% in the month, in line with estimates, to an annual rate of 4.89 million units. “The increase in existing-home sales occurred in all major regions of the country,”said Lawrence Yun, NAR’s chief economist. He said sales should continue upwards “due to tax credit incentives and historically high affordability conditions.” ...(read more)