DETROIT-On Thursday, the National Association of Realtors announced that its seasonally adjusted sales index increased 5.2% in July from the previous month to reach 79.4.
The sales index declined once the tax credits expired in April with the index reading of 75.5 in June, the lowest ever recorded. Although home sales have increased in July, the reading was 19% lower when compared to last year. Buyer demand for housing also continues to be weak. For the full story, go to The Detroit Free Press.
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