WASHINGTON, DC-According to the National Association of Realtors, the sales of homes that were previously occupied will show a decrease of 26% in July compared to that in June. Campbell Surveys reported that more than 39% of July home sales were by first-time buyers, a decrease of 9% from that of March.

Key reasons for this plunge in home sales are overestimation of home values by sellers, unemployment, the expiry of the federal tax credit and a feeble economic recovery. For the full story, go to San Deigo.com.

GlobeSt.com News Hub is your link to relevant real estate and business stories from other local, regional and national publications.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Aggregate (external)
Feature
National
Washington, DC