March Existing-Home Sales Slip but First-Time Buyers Rise

WASHINGTON, April 23, 2009

Existing-home sales eased in March but first-time buyers are responding to low mortgage interest rates and tax credits, according to the National Association of Realtors®.

Existing-home sales – including single-family, townhomes, condominiums and co-ops – declined 3.0 percent to a seasonally adjusted annual rate1 of 4.57 million units in March from a downwardly revised level of 4.71 million in February, and were 7.1 percent lower than the 4.92 million-unit pace in March 2008.
See rest of article: http://www.realtor.org/press_room/news_releases/2009/04/march_ehs