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U.s. Existing Home Sales Fell 3.8% In June To 5.75 Mln Rate

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Guest The_Oldie

http://www.bloomberg.com/apps/news?pid=206...&refer=home

July 25 (Bloomberg) -- Home resales in the U.S. fell for a fourth straight month in June, a sign housing remained mired in the worst slump in 16 years going into the second half.

Purchases last month declined 3.8 percent to an annual rate of 5.75 million, the slowest pace since November 2002, from a revised 5.98 million in May that was less than initially reported, the National Association of Realtors said today in Washington.

Rising borrowing costs are discouraging buyers, leaving a glut of unsold homes on the market and dimming prospects for a quick recovery in housing. Federal Reserve policy makers last week trimmed their economic growth forecast amid persistent weakness in home building.

``The difficult conditions that plagued the homebuilding industry in the first quarter of 2007 worsened in the second quarter, with increased competitive pricing pressures, elevated levels of new-and-resale home inventory, and weak consumer sentiment for housing affecting the entire industry,'' said Richard Dugas, chief executive officer of Pulte Homes Inc., the third-largest U.S. homebuilder by revenue.

Dugas made the remarks in a statement on July 17, when the Bloomfield Hills, Michigan-based builder said orders last quarter fell 20 percent.

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5.75m during June compared to consenus of 5.87m.

Prices still (!) show a small rise.

Badly formatted data follows:

U.S. June Existing Home Sales: Statistical Summary (Table)

2007-07-25 10:00 (New York)

By Kristy McKeaney

July 25 (Bloomberg) -- Following is a summary of U.S. existing

home sales from the National Association of Realtors.

*T

==============================================================================

June May April March Feb. Jan. 3 month

2007 2007 2007 2007 2007 2007 Average

==============================================================================

Total sales 5.750 5.980 6.010 6.150 6.680 6.440 5.913

Single Family 5.010 5.190 5.240 5.350 5.880 5.670 5.147

Condos/Coops 0.740 0.790 0.770 0.800 0.800 0.769 0.767

--------------Monthly Percent Change-------------- -YoY%-

Total sales -3.8% -0.5% -2.3% -7.9% 3.7% 2.7% -11.4%

Single Family -3.5% -1.0% -2.1% -9.0% 3.7% 3.1% -12.1%

Condos/Coops -6.3% 2.6% -3.8% 0.0% 4.0% 0.1% -6.6%

-------------------Months Supply------------------ 3mth Avg.

Total sales 8.8 8.8 8.4 7.4 6.8 6.6 8.7

Single Family 8.7 8.6 8.2 7.2 6.5 6.5 8.5

Condos/Coops 9.2 9.8 10.0 8.8 9.2 7.6 9.7

------------------------------------------------------------------------------

==============================================================================

June May April March Feb. Jan.

2007 2007 2007 2007 2007 2007 -YoY%-

==============================================================================

--------------------Median Price------------------

Total sales $230,100 $222,700 $219,800 $217,400 $213,600 $210,900 0.3%

Single Family $230,300 $221,900 $219,300 $216,200 $212,400 $209,300 0.1%

Condos/Coops $228,900 $228,200 $223,200 $225,800 $222,600 $222,600 2.6%

-------------------Average Price-----------------

Total sales $276,700 $270,600 $268,100 $265,200 $260,100 $257,300 0.3%

Single Family $278,200 $271,200 $269,100 $264,900 $260,300 $257,200 0.2%

Condos/Coops $266,500 $266,600 $261,200 $266,900 $258,800 $258,700 2.0%

==============================================================================

NOTE: All levels are in millions and seasonally adjusted

at annual rates except for prices.

*T

To see this table in Japanese: {TNI USECO SHIHYO JBN <GO>}

SOURCE: National Association of Realtors

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I can't believe that at the height of 'Great Crash 2' prices are higher than a year ago <_<

The height, eh? What leads you to assume that it's the height?

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