PrintAugust 26, 2010
Graph of the Day for August 26, 2010
"Realtors appreciate the swift action by Congress to extend the home buyer tax credit and expand it to some current homeowners... As the leading advocate of housing and real estate issues, we urge President Obama to sign this legislation into law quickly to keep the momentum going in the fragile recovery of the nation's housing market." Charles McMillan, National Association of Realtors President, November 5, 2009, as quoted by CNBC.
"The end of lucrative tax credits in April took their toll on housing, sending existing-home sales in July to their lowest level in more than a decade... The number was supposed to be weak. It was just worse than anyone expected. Paul Dale, a U.S. economist for Capital Economics, called the report ‘eye-wateringly weak.'" MSN, Aug. 24, 2010.
Source: Business Insider.
Hoven's Index for August 26, 2010
Change in number of sales of existing homes, from June to July 2010: -27.2%
Change from July 2009 to July 2010: -25.5%
Change in median sale price of existing homes, from June to July 2010: -0.22%
Change from July 2009 to July 2010: +0.72%
Change from 2007 to July 2010: -16.6%
Source: National Association of Realtors.
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