Housing market entering dicey transition phase

By Jann Swanson | Mortgage News Daily

RealtyTrac estimated that home sales in July were at an annualized rate of 4.63 million units, a decrease of 3 percent from June and down 12 percent from July 2013. This would be the third consecutive month in which RealtyTrac has projected a decrease in sales volume and the report is sharp contrast to the Existing Home Sales report issued last week by the National Association of Realtors® (NAR). That report showed existing home sales rose 2.4 percent from June to July, the fourth straight month-over-month increases, to an annualized total of 5.15 million sales and a rate down only 4.3 percent from the previous July.

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September 2, 2014

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