Home Sales Hit Slowest Pace in 4 Years

BY

Sales of Existing Homes Fall in May to Lowest Level in Four Years

Reflecting further housing troubles, sales of existing homes fell in May to the lowest level in four years while the median home price dropped for a record 10th consecutive month.

The National Association of Realtors reported Monday that sales of
existing single-family homes and condominiums dropped by 0.3 percent to 5.99 million units in May, the slowest sales pace since June
of 2003.

The median price of a home sold last month dropped to $223,700, down 2.1 percent from a year ago. It marked the 10th straight price decline compared with a year ago, the longest stretch of weakness on record.

The sales decline reflected weakness in the South, where sales dropped by 3.4 percent, and the West, where sales were down by 0.8 percent.

Sales actually showed strength in the Northeast, rising by 5.8
percent, and the Midwest, where they were up 0.7 percent.

In a troubling sign for the future, the inventory of unsold homes
rose by 5 percent to 4.43 million units in May, a level that would
take 8.9 months to clear out at the May sales pace. That is the
highest inventory level since the last deep slump in housing in 1992.

Analysts said housing is being hurt currently by high inventories and the recent crisis in subprime mortgages, which has caused lenders
to tighten their standards, making it harder for potential buyers to
qualify for loans.

They said all of the housing troubles seem to be causing a crisis in
confidence, making people delay decisions to buy homes.

The current slump in housing is the worst since the 1989-92
downturn. It is occurring after a prolonged boom that saw sales of
new and existing homes set new records for five consecutive years.

Analysts believe that the median home price, the midpoint where
half the homes sold for more and half for less, will continue falling
until builders move further to cut back on production of new
homes coming on the market.

The Realtors are predicting that the median home price will decline by 1.3 percent this year while sales are forecast to drop by 4.6
percent. It would be the first annual price decline in four decades
of record-keeping.

Another potential problem is mortgage rates, which have been
trending higher in recent weeks although they still remain below
their historical averages.

Touch

原帖由 BY 於 2007-6-25 10:44 PM 發表
Sales of Existing Homes Fall in May to Lowest Level in Four Years

Reflecting further housing troubles, sales of existing homes fell in May to the lowest level in four years while the median h ...

Thanks Mr. By!!!

笑傲江湖

在下看不懂英文.....也顶一下BY兄的好帖 .......

加隆

  好深奥  By   看的我又困了  

BY

全美地產經紀協會(NAR)公布, 美國5月份二手房銷量年率達599萬伙, 較4月份修訂後銷量601萬伙, 下跌0.3%。

5月份銷量創03年6月以來的新低。

市場原先預期, 5月份銷量較4月份初估銷量599萬伙, 下跌約0.3%至597萬。 5月份二手房中間售價為22.37萬美元, 較去年同期跌2.1%。這是該數字連續第十個月滑落。 5月份待售二手房存貨升5%至破紀錄的443萬伙; 如按5月銷售速度計算, 需8.9個月的時間售罄, 為92年6月以來的新高。

JKL

thanks