Existing-home sales slip in June | Armonk NY Homes

-
Existing-home sales slipped in June, but ample pent-up demand and favorable buying conditions should keep the housing market from stumbling in the face of a recent surge in interest rates, the National Association of Realtors (NAR) said today.
“Affordability conditions remain favorable in most of the country, and we’re still dealing with a large pent-up demand,” said Lawrence Yun, chief economist at NAR.  “However, higher mortgage interest rates will bite into high-cost regions of California, Hawaii and the New York City metro area market.”
Amid the drop in home purchases, home prices continued to soar above year-ago levels, as inventory edged upwards, NAR said.
Existing-home sales dropped 1.2 percent to a seasonally adjusted annual rate of 5.08 million units in June from a downwardly revised 5.14 million in May, according to NAR.
During the same period, housing inventory rose 1.9 percent to 2.19 million homes, representing a 5.2-month supply of homes at the current rate of sales, NAR said.
That’s up from a five-month supply in May. But inventory in June was still 7.6 percent lower than a year ago, when there was a 6.4-month stock, according to NAR.


Bedford New York Real Estate | Bedford NY Homes by Robert Paul Realtor » Blog Archive » Existing-home sales slip in June | Armonk NY Homes

Comments

Post a Comment

Popular posts from this blog

Four Regional Banks Discuss Settlement Over Foreclosures | Waccabuc Real Estate

-
Image
U.S. state attorneys general are pressing four banks to accept a legal settlement over botched foreclosures similar to a deal reached with larger competitors this year, according to three people briefed on the matter. U.S. Bancorp (SFBC) , PNC Financial Services Group (PNC) Inc., SunTrust Banks Inc. (STI) and HSBC Holdings Plc (HSBA) have held talks with state and federal officials who investigated claims that loan servicers mishandled foreclosure documents, according to the people, who spoke on condition of anonymity because the talks are private. U.S. Bancorp Said to Join PNC in Talks on Mortgage Settlement Jeff Kowalsky/Bloomberg Mortgage servicers typically handle billing and collections, as well as foreclosures when borrowers fail to pay. Neil Brazil , a spokesman for HSBC’s North America unit, said in an e-mail that the London-based lender has conducted “preliminary discussions with its bank regulators and other ...
Read more

Bedford Corners Real Estate by Robert Paul | 3 Perks of Google+ for Doctors: Spend a Little Time, Make Big Online Marketing Gains

-
Image
For doctors trying to reach their patients online, using Google+ can provide surprising marketing benefits that help them be more “findable” on the web. Consider that 44 percent of all Internet users search online to find information about health professionals, and suddenly the importance for doctors of having a good online presence should be more clear. In this article I’ll discuss three reasons why I think that, if you participate in Google+, the newest social network, you can improve the chances your name will come up when prospective patients search for something you’ve written about. If you’re not a doctor but you do know that many prospective clients use the web as a way to find you and your competitors, this article will also be relevant to you. 1. Rise in the Rankings First, participating in Google+ gives doctors an advantage because content you share on Google+ has an “edge” against other stories. That’s right–Google (the search engine) likes stories that’ve gotten sha...
Read more