Existing Home Sales Have Record 2005

Jan. 25, 2006
Although sales of existing homes declined in December, as most economists expected, sales for 2005 were 7.072 million, their fifth consecutive annual record, the Chicago-based National Association of Realtors (NAR) reported Jan. 25. Sales of existing ...


Although sales of existing homes declined in December, as most economists expected, sales for 2005 were 7.072 million, their fifth consecutive annual record, the Chicago-based National Association of Realtors (NAR) reported Jan. 25. Sales of existing homes last year were 4.2% higher than 2004's total of 6.784 million units.

December sales of single-family homes, townhouses, condominiums and co-ops were at a seasonally adjusted annual rate of 6.6 million units, 5.7% below November's upwardly revised rate of 7 million units.

"The level of home sales activity is now at a sustainable level, and is likely to pick up a bit in the months ahead," believes David Lereah, NAR's chief economist. "Overall fundamentals remain solid, driven by population and employment growth as well as favorable affordability conditions in most of the country, so we expect the housing market to remain historically high but lower than last year's record."

Popular Sponsored Recommendations

Food and Beverage 2024 Trends and Outlook for North America

Oct. 29, 2023
Ready to hear what 200 of your peers said are the top challenges and opportunities in 2024? Don’t fall behind. Uncover actionable insights to better prepare for 2024 in this whitepaper...

How to Achieve a Sustainability Breakthrough by Increasing Data Resolution

Aug. 22, 2023
Learn how looking at data differently can help companies address sustainable operations challenges.

Modern Edge Computing Accelerates Smart Manufacturing Initiatives for Discrete Manufacturers

Oct. 22, 2023
Discover how Edge Computing platforms are a requisite for discrete manufacturers to solve production challenges, accelerate digitalization, and establish a reliable infrastructure...

How Digital Twin Technology is Empowering Manufacturers

Sept. 27, 2023
This FAQ delves into why this technology offers business value and considerations toward implementation.

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!