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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Haim R. Branisteanu who wrote (5096)4/27/2004 10:28:28 AM
From: mishedlo  Read Replies (1) of 116555
 
U.S. March existing home sales up 5.7% to 6.48 mln By Mike Maynard
WASHINGTON (CBS.MW) -- Existing home sales rose 5.7 percent in March to 6.48 million units on a seasonally adjusted annual basis, the National Association of Realtors said. It's the second highest sales level ever. The rise in March sales was much stronger than the 6.18 million units expected. On a year-on-year basis, existing home sales were up 12.7 percent. "Low mortgage rates in March fueled sales," said David Lereah, NAR's chief economist. Sales rose a revised 2.2 percent in February to 6.13 million units, compared with the initial estimate of a 2.0 percent rise to 6.12 million. The median national sales price rose 7.4 percent from the previous year and stood at was $174,100 in March. Inventories of unsold homes rose 4.8 percent to 2.39 million, a 4.4-month supply at the currrent sales pace.
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