Home Sales Slightly Decrease While Prices Reach New Highs

Over the last few months, home sales in the United States have soared to record high levels but have recently slowed.  According to the National Association of Realtors, U.S. home sales decreased 1.2% averaging an annual rate of 5.08 million units. Although home sales have fallen slightly, sales pace in June 2013 is still the second highest pace seen since late 2009. Experts say the recent rise in mortgage rates is not to blame for the slight fall in home sales. Economist at RBS, Guy Berger said, “the rise in mortgage rates is a headwind, but it’s probably not enough to derail the home sales recovery. The fundamentals in the market are still very good.” More here

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