Monday, July 25, 2005

Home Prices Up Again

Some experts were saying to today that the latest strong housing numbers are because people rushed out to buy before interest rates went higher.

“WASHINGTON (Reuters) - Sales of previously owned U.S. houses hit a record pace in June, climbing 2.7 percent as home prices soared 14.7 percent from a year ago, the biggest jump in nearly 25 years, a trade group said on Monday.

Sales of existing homes surged to a seasonally adjusted 7.33 million unit annual rate last month from May's upwardly revised 7.14 million unit clip, the National Association of Realtors said. The total includes both single-family homes and condominiums.”



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