June Home Sales Jump 3.6%
The NAR reported, http://www.realtor.org/press_room/news_releases/2009/07/sales_up, that June existing home sales increased 3.6% in June. Overall US home inventory decreased .7% to a 9.8 month supply and average home prices increased .9%, further signs that the housing recovery which began late April has taken hold. Record low interest rates, 5.42% (30 year fixed, conven.), averaging a point below June ‘08 and the $8,000 stimulus have helped drive 29% of home sales. This is excellent for retirees who need to sell a home to purchase elsewhere.
