Record Homes Sales In The Second Quarter
According to the National Association of Realtors®, total existing-home sales were at the highest pace on record in the second quarter. National seasonally adjusted annual rate was 7.22 million units in the second quarter. This is an increase of 4.6% from the previous record of 6.9 million units in the second quarter of 2004.
David Lereah, NAR’s chief economist, said, “Record home sales are creating high demand for related goods and services, and they’re creating new jobs.” According to NAR President Al Mansell “Historically low mortgage interest rates and improving labor markets are giving our growing population the opportunity to make the transition from renting to owning."
Total existing-home sales in the Midwest, in the second quarter increased 1.6% to a 1.62 million-unit annual pace in comparison with a year ago.
David Lereah, NAR’s chief economist, said, “Record home sales are creating high demand for related goods and services, and they’re creating new jobs.” According to NAR President Al Mansell “Historically low mortgage interest rates and improving labor markets are giving our growing population the opportunity to make the transition from renting to owning."
Total existing-home sales in the Midwest, in the second quarter increased 1.6% to a 1.62 million-unit annual pace in comparison with a year ago.
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