Existing Home Sales Declined In July
Sales of existing homes declined in July on the local, state and national levels. Jim Letizia reports.
The National Association of Realtors says sales of exisiting U.S. homes fell 1.3 percent in July to a seasonally adjusted annual rate of 5.44 million - their lowest level of the year. The association says fewer homes are coming onto the market, which is depressing sales figures. The Ohio Association of Realtors says July sales fell by six-tenths of a point from June to a seasonally adjusted annual rate of nearly 147 thousand. The Columbus Realtors trade association says slightly more than 3 thousand homes were sold in its multi-county region last month, down 10.3 percent from June. Both organizations also cite fewer homes on the market. The national median sale price of 258 thousand dollars is down six thousand from June. The statewide average sale price of 181 thousand is down five thousand dollars from June. And July's local median sale price of nearly 195 thousand is down by two thousand dollars from the previous month.