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by CareyBot

Total existing-home sales, which include single-family and condos, set a new record in the second quarter, with 42 states showing higher sales than in second-quarter 2004, the National Association of Realtors trade group reported today. In the latest report on total existing-home sales, the national seasonally adjusted annual rate was 7.22 million units in the second quarter, up 4.6 percent from the previous record of 6.9 million in second-quarter 2004. Total home sales include single family, town homes, condominiums and co-operative housing. The seasonally adjusted annual rate for a particular quarter represents what the total number of actual sales for a year would be if the relative sales pace for that quarter was maintained for four consecutive quarters, the association noted. NAR...