Industry News

Real estate resales slow 7% in second quarter

But activity up in 20 states compared to year-ago level

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The pace of second-quarter existing-home sales slowed 7 percent compared to second-quarter 2005, the National Association of Realtors reported today, while 20 states had an increase in sales activity. The seasonally adjusted annual rate of existing-home sales was 6.69 million in the second quarter, down from a record 7.19 million rate in second-quarter 2005. This seasonally adjusted annual rate is a projection of a quarterly sales total over a 12-month period, accounting for seasonal fluctuations in sales activity. In Alaska, second-quarter existing-home sales rose 48.6 compared to second-quarter 2005. In Arkansas, the resale pace rose 17.9 percent from a year earlier, while Texas had the third-strongest gain, at 11.3 percent. Twenty-eight states and Washington, D.C., experienced declines, according to the announcement, and complete data for two states was not available. Regionally, the South reported an existing-home sales pace of 2.6 million units in the second quarter, down 4.2 pe...