Realtors Say Existing Home Sales Rose in July
August 25, 2008Sales of existing homes rose 3.1 percent in July.
The National Association of Realtors reported sales rose to a seasonally adjusted annual rate of 5 million units. Sales had been expected to rise by only 1.6 percent, according to economists surveyed by Thomson/IFR.
Still, home sales were 13.2 percent lower than a year ago.
The median price for a home sold in July dropped to $212,000, down by 7.1 percent from a year ago.