California Home Mortgage

The National Association of Realtors today released Existing Home Sales data for July 2010. HERE is the methodology for data collection Excerpts from the release…. Existing-home sales were sharply lower in July following expiration of the home buyer tax credit but home prices continued to gain, according to the National Association of Realtors®. Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, dropped 27.2 percent to a seasonally adjusted annual rate of 3.83 million units in July from a downwardly revised 5.26 million in June, and are 25.5 percent below the 5.14 million-unit level in July 2009. Total Sales are at the lowest level since the total existing-home sales series launched. Single-family home sales dropped 27…(read more)