Sales in the secondary housing market in the U.S. in July collapsed

26.08.2010 09:50
Sales in the secondary housing market in the U.S. in July, collapsed on 27,2% - to 3.83 million homes at an annual rate, according to a report of the National Association of Realtors.
This minimum level since the start of publication of comparable data in 1999

The previous month, compared with 5.26 million homes, and not 5.37 million, as previously reported. Analysts polled by Bloomberg, had expected sales to fall 13.4% from the earlier announced the June level - up to 4,65 million

"In order to complete recovery occurred in the housing sector, we need to complete recovery in the labor market", - said the chief economist at Raymond James & Associates Inc. Scott Brown.

Falling sales of homes on the secondary market in July on the same month last year was 27%. This reduction was recorded in all regions of the United States.

The average cost of housing in the U.S. in July rose by 0.7% compared to the same month last year - to $ 182.6 thousand in June, compared with $ 183 thousand

Number of homes for sale in the past month increased by 2,5% - to 3,98 million At the current pace of sales would take 12.5 months to completely sell them - is the maximum rate at least since 1999.

For resale homes account for about 90% of the trading market housing in the U.S..
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Content tags: Overseas property
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