Earlier this month, the National Association of Realtors (NAR) released its existing home sales
data for October, reporting a 3.
Total existing home sales
include single-family homes, town houses, condos and co-operative housing.
This paper will study the effects of changing monetary policies on the housing market by observing the response differentials between new home construction and existing home sales
(two housing sub-markets) to interest rate changes.
For the year, existing home sales
are projected to increase 7.
In addition, the housing market correction, where new home sales and existing home sales
are forecasted to decrease approximately 19% and 8.
The National Association of Realtors reported existing home sales
1 percent decline in existing home sales
in March compared to March last year.
Combined, the data on existing home sales
, housing starts and mortgage applications shows the housing market remains strong.
The California Association of Realtors report, generated in conjunction with Real Estate Solutions, covered both new and existing home sales
and condominium sales, comparing prices in July, August and September with prices in the same months in 1999.
Three of the most important releases are housing starts, new home sales and existing home sales
The headlines say that existing home sales
were down 1.
com Model Projects July Existing Home Sales
to Come in at 5.