National Association Of Realtors Reports Increase In Sales
The National Association of Realtors this week reported that the sales of existing homes located in the United States have increased 3% during February 1st. This has been the first increase since July of last year. The reason the increase has occurred is because the prices have been lowered.
The S&P/Case-Shiller index of twenty major markets showed that home prices fell almost two and a half percent in January. Prices were down almost eleven percent from a year before. And still another report this week showed that sales of new single-family houses fell in February. Sales were down almost two percent from January, to a thirteen-year low. The Commerce Department estimated there was a ten-month supply of newly built houses waiting to be sold.