Tuesday, June 23, 2009

new US homes in May: modest rise

According to the National Association of Realtors, in May, sales of previously owned homes rose 2.4% to an annual rate of 4.77 million, up from 4.66 million in April. This means that sales have risen for a second month in a row in but at a slower pace than expected pace.

House prices in May were down 16.8% compared with May 2008 and the average sale price was $173,000 ($207,900 in May 2008).

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