Subprime Lending

NAR: Housing Market ‘Underperforming’ 

The NAR’s existing homes sales numbers are out, and show a 10.6 percent drop in sales volume versus year-ago levels: Total existing-home sales – including single-family, townhomes, condominiums and co-ops – eased by 0.3 percent to a seasonally adjusted annual rate1 of 5.99 million units in May from an upwardly revised pace of 6.01 million in April, and are 10.3 percent below the 6.68 million-unit level in May 2006.