Existing Home Sales – December Report
Monday, February 15th, 2010
Summary of Home Sales Pace by the National Association of Realtors
Sales of existing home sales in September dropped another 1.2%, a whopping 10% overall drop since end of August.
The seasonally-adjusted annual rate of 4.97 million homes is the lowest seen by the National Association of Realtors since they began tracking the combined sales of single-family units + condos in 1999.
The largest drop in home sales in October (versus sales in September) was seen in the West which fell 4.4%. Sales dropped 1.7% in the Midwest and remained flat in the Northeast and South.
Consistent with last month’s report, an annual comparison is even worse. The West is down over 33%, South almost 20%, Midwest close to 17% and the Northeast down 12.6%. Nationally, the overall annual sales pace is down 20.7% and those figures are seasonally adjusted.