Fri, 06 Jul 2018 12:39 IST
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Home Re-sales Dip in US

New York, March 22 ( – Last month, home re-sales dipped in the US, but the sales pace for the winter was the best in five years. A mild winter and a stronger job market flourished the sales ahead of the all-important spring buying season.

According to the National Association of Realtors, home sales fell 0.9 percent last month to a seasonally adjusted annual rate of 4.59 million. That’s down from a revised 4.63 million sold in January, however, it is the highest level since May 2010. Sales remain below the 6 million that economists equate with healthy markets. Sales among first-time buyers, fell slightly to 32 percent of all purchases. That’s down from 33 percent in January. In healthy markets, first-time buyers make up at least 40 percent.

And homes at risk of foreclosure made up 34 percent of sales, down only slightly from 35 percent in January. In more stable markets, foreclosures make up less than 10 percent of sales. There are more signs of improvement in the depressed housing market.

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