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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Ilaine who wrote (5356)	6/26/2001 10:05:20 AM
From: Ilaine	Read Replies (2) \| Respond to of 74559

>>Home Resales Rose 2.9% in May By BLOOMBERG NEWS ASHINGTON, June 25 — Sales of previously owned homes rose in May to the third-highest level as falling mortgage rates kept housing resistant to the economy's slowdown. Resales increased 2.9 percent, to an annual pace of 5.37 million houses from 5.22 million in April, the National Association of Realtors said. Only in March of this year and in June 1999 was the pace of sales faster than it was last month. Through May, sales were 2.6 percent higher than in the period a year earlier. If the current rate holds, 5.25 million homes will sell this year, which would beat the record 5.21 million sold for all of 1999. "Each month is just getting better," said Brenda Shipplett, an executive vice president at Long & Foster Real Estate Inc., a mid-Atlantic agency.<< nytimes.com