Existing-Home Sales Hold in High Range in June
Existing home sales eased .6% in June to a seasonally adjusted annual rate of 5.33 million units from a level of 5.36 million units in May. The national median existing-home price was $152,600 in June, up 8.8% from June 2000 when the median price was $140,200.
Regionally, home resale activity in the West rose 6.6% from May to an annual rate of 1.46 million units in June. Activity was 5% higher than in June 2000. The median existing-home price in the West was $198,000.
Existing-home sales in the Northeast slipped 1.6% from May to a pace of 630,000 units in June. The sales rate was 3.1% below June 2000. The median existing-home price in the Northeast was $150,800, up 4.1% from a year ago.
In the South, the existing home sales pace declined 2.3% in June to an annual rate of 2.11 million units. The median price of an existing home in the South was $145,100, which was 13% higher than June 2000.
In the Midwest, homes were reselling at an annual rate of 1.14 million units in June, down 4.2% from May, but were 1.8% above June 2000. The median price in the Midwest was $130,900, up 3.2% from a year ago.