Sales of previously owned homes in the US rose 3.1% in July, as buyers took advantage of falling prices in the wake of the housing slowdown.
Sales climbed to a seasonally adjusted annual rate of 5 million units, said the National Association of Realtors.
While the figures were greater than expected, home sales were still 13.2% less than the level a year earlier.
Many parts of the US worst Czech extremist association to appeal registration ban ...
Romany activist demands abolition of Czech extremist party ...
Twenty percent of Czechs trust govt, 16 percent MPs-Eurobarometer ...
Global stocks slide into the red ...
German dairy farmers end milk strike ...
Dairy industry threatens with legal action ... hit by the US sub-prime crisis have seen prices slump, sending average prices lower.
The median price for homes sold in July fell 7.1% year-on-year to $212,000 (Ј114,439).
"The data is not too significant, and the market hasn't reacted dramatically to it," said Al Kugel, chief investment strategist at Atlantic Trust.
But he added: "It is interesting that home sales have pretty much levelled off in 2008."
Richard Gaylord, president of the National Association of Realtors said: “We hope the new tools in the hands of home buyers from the recently enacted housing stimulus package will spark a sustained sales uptrend in the months ahead."
(BBC)
<< Back