October 26, 2006
Existing Home Sales Fall For 6th Month
Existing Home Sales Fall For 6th Month
According to the National Association of Realtors, the pace of U.S. existing home sales slowed for the sixth straight month in September, hitting an annual rate of 6.18 million units, which was a sharper drop than economists expected.
Price of homes fell from year-ago levels, with median home prices dropping 2.2 percent from September last year to $220,000.
The inventory of homes for sale was down 2.4 percent to 3.75 million units — a 7.3-month supply. It was the second consecutive drop in inventory.
