Stacie Hartman

The Mortgage Blog of Stacie Hartman

Existing Home Sales Down in January

According to the National Association of Realtors, sales of existing homes dropped 7.2 percent in January. Lawrence Yun, NAR’s chief economist, said the delay between shopping and closing affected current sales, noting that most of the completed deals in January were based on contracts from November and December. Still, Yun said, the decline is not encouraging. Despite the discouraging numbers, compared to January 2009, existing-home sales were up 11.5 percent. More here.

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