New signs of cooling housing market

[wicket]

LINK

Sales of existing homes fell in April, and the price posted the smallest increase in 4 1/2 years, new signals that the nation's once red-hot housing market has cooled.

The National Association of Realtors said Thursday that sales of previously owned single-family homes and condominiums dropped by 2 percent last month to a seasonally adjusted sales pace of 6.76 million units.

The median price of homes sold in April rose to $223,000, an increase of 4.2 percent from April 2005. That represented the smallest year-over-year price gain since September 2001.

The price increase in April was far below the double-digit price gains that home sellers enjoyed last year. Sales of both new and existing homes set new records for five straight years as the housing industry enjoyed a boom powered by the lowest mortgage rates in more than four decades.

[wakeme2008]

1. While I could be wrong I think that shows a negative trend on houses

prices. They compare Apr 06 to Apr 05 and only show prices up 4%... Sounds like they went up the first 6 months and down the last couple months.

[wicket]

2. kick

:kick: