With the closing deadline passed for home buyer tax credits, U.S. existing-home sales slowed in June but were still above 2009 levels, according to the National Association of Realtors.
Existing-home sales - completed transactions that include single-family, townhomes, condominiums, and co-ops, fell 5.1% to a seasonally adjusted annual rate of 5.37 million units in June from 5.66 million in May; this is still 9.8% higher than the 4.89 million-unit pace in June 2009.
Lawrence Yun, NAR chief economist, said the market shows uncharacteristic yet understandable swings as buyers responded to the tax credits. “June home sales still reflect a tax credit impact with some sales not closed due to delays, which will show up in the next two months,” he said.
to Daily News