Existing home sales fell 3.5% in July
Condominium and co-op sales were flat; single-family home sales declined 4%.
The median home price declined 0.9% in July, to $174,000.
The average 30-year mortgage rate fell to 4.45%, from 4.54% in June.
New home sales declined 0.7% in July, the median price was $222,000.
Pending sales rose 2.4% in June after rising 8.2% in May.
Housing starts overall declined by 1.5% in July, but multifamily starts were up 7.8%.
Single-family starts were down 4.9%. S&P’s “months to clear” estimate of the distressed market supply is 47 months, a five-month decline from the first-quarter estimate.
The number of homeowners delinquent on mortgage payments rose to 8.44% during the second quarter; while the number of foreclosures fell to 4.43%.
Mortgage applications increased 2.4% during the week ending August 19, 2011.
Posted via Seattle Real Estate-Seattle Homes For Sale