Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON – Low mortgage rates coupled with a strong demand for homes resulted in a new record in the first quarter of 2003 of existing home sales. According to the National Association of Realtors, 34 states experienced sales increases for the three month period compared to the the first quarter 2002. The NAR’s report showed that 14 states and the District of Columbia reported “generally modest” declines in the annual sales activity rate from the previous year. Nationwide, the seasonally adjusted annual rate of total existing homes sales was a record 6.68 million homes in the first quarter, up 2.2% from the 6.52 million unions in the first quarter of 2002. The previous record was set in the fourth quarter of 2002 with 6.59 million units. The strongest year-to-year increase was in Nevada. The resale pace went up 28.5% compared with the first quarter 2002. Hawaii was in second place with a 28.2% increase, and South Dakota was third – up 20.1%. Regionally, the South experienced the highest increase in existing-home sales – 2.73 million units in the first quarter, up 5% from 2002. The Midwest showed a 1% increase. Missouri came in fourth throughout the U.S. – sales activity was up 19.1% from the first quarter of 2002. Kansas ranked next – up 15.9% – followed by Nebraska, up 10.3% The West showed a modest increase of 0.6% compared to the first quarter 2002. Existing home sales in the Northeast, meanwhile, dropped 1.8% from the first quarter 2002.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.