Cincinnati Real Estate Blog

Existing home sales, including single-family homes, townhomes, condos, and coops slipped 2.2 percent in December to a seasonally adjusted annual rate of 4.89 million units from an annual pace of 5 million in November. The December figure was 22 percent lower than the 6.27 million sales pace in December 2006.

Despite the steadily dropping sales throughout the year, 2007 ended up with the fifth highest sales of existing homes on record. 5,652,000 existing homes sold during the year but this was 12.8 percent fewer units than the 6,478,000 sold in 2006.

This data came on Thursday from the National Association of Realtors monthly release of existing home sales data. Information on new home sales will be available next Monday from the Census Department and the Department of Housing and Urban Development.