U.S. June home sales drop 2.6% from May
U.S. home sales in June fell 2.6 per cent from the May figure and are 15.5 per cent below the June 2007 number, the U.S. National Association of Realtors (NAR) said Thursday.
Prices also dropped, but the situation was different in the two market sectors, the large single-family homes contingent and the much smaller condominium and co-op sales group.
Single-family home sales in June dropped 3.2 per cent to an annual rate of 4.27 million from 4.41 million in May, NAR said. That left the the total 14.8 per cent below the 5.01 million figure a year earlier.
The median price was $213,800 US, down 6.7 per cent from June 2007.
June condominium and co-op sales, about one-sixth the size of the single-family market, actually rose 1.7 per cent or by 10,000 units from May, to an annual rate of 590,000 units. But the monthly gain still left the market nearly 20 per cent below the June 2007 number of 735,000 units.
The median condo price fell 2.2 per cent to $224,200 in June from June 2007.
NAR represents 1.3 million members in the residential and commercial real estate business.
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