Home Sales

Home Sales Drop in July 

Sales of existing home sales fell in July after two months of gains with tighter lending standards and valuation challenges, but sales increased over July 2010. In a survey of 53 metropolitan areas, the National Housing Report released by Re/Max found that home sales fell by 12.7% in July from the previous month.  On the bright side, the pace of sales in this survey were higher than the previous year for the first time in six months.  Sales in July outpaced sales from July 2010 by 13.1%. The survey stated that contributing the decline in sales were strict lending