NAR.org - "Existing-Home Sales Slip in April" (5-25-06)

"Total existing-home sales – including single-family, townhomes, condominiums and co-ops – slipped 2.0 percent to a seasonally adjusted annual rate1 of 6.76 million units in April from a downwardly revised level of 6.90 million in March, and were 5.7 percent below the 7.17 million-unit pace in April 2005

So new homes are selling better then existing inventory. Not a huge surprise. Keep in mind that all news articles posted from National Association of Realtors are referencing national trends which are sometimes very different from California. California Association of Realtor data shows declines almost across the board.

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