2006 Home Sales Third Highest on Record

Published: January 31, 2007

<table width="507"><tbody><tr><td class="itemheader"></td></tr><!– Story –><tr><td class="blacktext" width="500">Existing-home sales eased in December 2006 but the year was the third-highest in sales on record, NAR says. Total existing-home sales, including single-family, townhomes, condominiums, and co-ops, eased 0.8 percent to a seasonally adjusted annual rate of 6.22 million units in December from a level of 6.27 million in November. There were 6.48 million existing-home sales in all of 2006, down 8.4 percent from a record 7.08 million in 2005. The second-highest total was 6,779,000 in 2004. &quot;It looks like we're moving beyond the low for the housing cycle last fall, and buyers are responding to historically low interest rates and competitive pricing by home sellers,&quot; says NAR Chief Economist David Lereah. &quot;In addition, a tightening inventory of homes on the market is supporting prices.&quot; </td></tr></tbody></table>

Last modified: January 31, 2007 at 2:42 pm | Originally published: January 31, 2007 at 2:42 pm
Printed: September 29, 2020