The National Association of Realtors announced today that total existing home sales - including singe-family, townhomes, condominiums and co-ops - decreased 2% in March when compared to the previous month’s sales. Increased FHA and conforming jumbo loan limits expected to reverse the trend.
The new monthly OFHEO purchase-only home price index
is expected to fall 1.5% in February, following a 1.1% decline in the
January report.
U.S. house prices rose 0.6% in February following
January’s 1.1% decline, the Office of Federal Housing Enterprise
Oversight (OFHEO) reported Tuesday. Economists had expected a monthly
decline of 1.5%.
Existing home sales fell more than expected in March,
falling 2.0% to a seasonally adjusted annual pace of 4.93 million units,
largely retracing the surprising 2.9% gain in the previous month to 5.03
million units, the National Association of Realtors (NAR) reported
Tuesday.