Checking in on the Housing Market

Today, March 23, 2010 is a day to be focusing on the housing market. The National Association of Realtors (NAR) have just posted reports on existing-home sales and Treasury Secretary Tim Geithner will testify before the House of Representatives Financial Services Committee about potential changes to the way U.S. homes are financed. According to NAR, "Existing-homes, which are finalized transactions that include single-family homes, townhomes, condominiums and co-ops, slipped 0.6 percent nationally to a seasonally adjusted annual rate of 5.02 million units in February from 5.05 million in January, but are 7.0 percent higher than 4.69 million-unit pace in February 2009." The fall of existing-home sales could be caused from the variable winter that hit the nation. Some people were unable to go out looking at houses and some postponed their closings due to the heavy snowfall. To read more about existing-home sales, go to the National Association of Realtors.