U.S. Housing Market Losing Momentum after Tax Credits End: Global Real Estate Weekly Comment for June 18, 2010

06/18/2010 12:02

The Census Bureau releases May figures for new home sales on Thursday, June 22, while the National Association of Realtors releases existing home sales on Friday, June 23. As expected, new home sales in the United States jumped 15 percent in April to 504,000 on the back of the rush by buyers to take advantage of the home buyer tax credit. This takes it to the highest level seen since May 2008. Existing home sales also showed strong gains, increasing by 7.5 percent, taking it to 5.7 million annualized. Read the full RICS Global Real Estate Weekly Comment here.