WASHINGTON -- Favorable housing affordability conditions, strong underlying demand, the improving economy, and unusually good weather encouraged home buyers to get into the market and drive total state existing-home sales to a new record in the first quarter of 2002.
Forty-six states and the District of Columbia posted increases from a year ago, according to the National Association of Realtors (NAR). The group's latest report on sales of previously owned single-family homes, condominiums and co-operatives showed that total sales rose by double-digit rates in 26 states in the first quarter of this year compared to the same quarter in 2001.