Total Existing Home Sales (NAR)

by Osman Parvez

A few days ago I posted our local real estate market updates (see sidebar). Today the National Association of Realtors (NAR) published their report on existing home sales.
Total existing-home sales – including single-family, townhomes, condominiums and co-ops – declined 1.3 percent to a seasonally adjusted annual rate of 6.62 million units in June from an upwardly revised level of 6.71 million May. Last month’s sales were 8.9 percent below the 7.27 million-unit pace in June 2005.
As expected, sales are cooling across the country and many markets are seeing a return to a more normal state. Some areas, including the Boulder market, are fairing better than others. The latest Boulder Market update shows sales in June up 16% from a year ago. However, we've also had some slow months this year (March and April) and Sales volume is running about 2% lower than this time last year while median prices are up about 3%.

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