Purchases of U.S. Existing Homes Fell in June = Down 5%

[mEDITate-OR:

not see that we do not see what we will see....

As Daniel @ The Atlantic in 2nd article points out, these NAR numbers are "completed sales", so the full effect of the Buyers Tax Credit is not completed, and the numbers will fall much more next month. That was shown to U.S. the last two months in NAR's "Pending sales" numbers.

So, tis worse than it looks.

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---------    Chart for cities for MAY existing home sales

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Purchases of U.S. Existing Homes Fell in June

http://www.bloomberg.com/news/2010-07-22/purchases-of-u-s-existing-homes-fall-a-second-month-as-tax-credit-fades.html
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Existing Home Sales Down 5% in June
http://www.theatlantic.com/business/archive/2010/07/existing-home-sales-down-5-in-june/60227/

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Sales of previously occupied homes fall 5.1 pct.

http://news.yahoo.com/s/ap/20100722/ap_on_bi_ge/us_home_sales
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