national association of realto

A report by the National Association of Realtors said that sales of single-family homes dropped 0.8%, the third consecutive monthly drop, to a seasonally adjusted yearly rate of 4.77 million from 4.81 million in May.

More importantly, May's pending sales were up 13.4% from May of 2010, the first time in 13 months that contract activity was up from the year earlier month.

NAR Chief Economist Lawrence Yun said, "Absorption of inventory is the key to price improvement, and this solid gain in contract signings implies that home values in many localities are or will soon be stabilizing as inventories g

Pending home sales increased 8.2% in May, after a terrible April in which the metric declined 11.3%, the National Association of Realtors said today.

Existing-home sales rose from November's upwardly revised 4.7 million rate to a seasonally-adjusted annualized rate of 5.28 million, ahead of economists' expectations of 4.88 million.

The median price of existing homes in December fell 1% to $168,800, the lowest since February, and November prices were marginally revised lower to $170,200.

The National Association of Realtors reported that sales of existing homes rose 12.3% in December, which was a positive end to 2010 following a collapse in house prices and a wave of foreclosures that depressed activity during the