NAR: January 2010 U.S. Home Sales Fall 7.2 Percent

http://www.realestateappraisertips.info/ – Real Estate Appraiser Tips: NAR Says January 2010 U.S. Home Sales Fall 7.2 Percent

Source

“Sales of previously occupied homes took a large drop for the second consecutive month in January, falling to the lowest level since summer. It is understood as another sign the housing market’s recovery is faltering. The National Association of Realtors said sales fell 7.2% to a seasonally adjusted annual rate of 5.05 million from a downwardly revised pace of 5.44 million in December. The results, the weakest since June, were far worse than forecast. Economists expected a slight increase, to a rate of 5.5 million.

Sales declined throughout the country, falling the most—nearly 11%—in the Northeast. Sales fell by about 7% in the South and the Midwest and by more than 5% in the West.“

If you enjoyed this article, you might also like...:

1. Good News For Appraisers: March 2010 Existing Home Sales Beat Expectations
2. Home Appraisers: 233,000 REOs Sold In First Quarter, Average Discount Was 27 Percent
3. Appraisers: Twenty Four Percent Of Borrowers Upside Down On Mortgages
4. Home Appraisers: NAR Trying To Replace Appraisers With Realtor RVMs…Why Are We Paying NAR Dues Again?
5. NC Appraiser Struggles To Find Values In Areas Of Foreclosures And Short Sales And HVCC and AMCs Are Thwarting Process!