NAR: 2Q Resales Set Record Pace

Total existing-home sales -- including condominiums and co-operatives -- reached record heights in the second quarter, rising by double-digit rates in 34 states and the District of Columbia from the levels recorded a year earlier, according to the National Association of Realtors.The seasonally adjusted annual resales rate was 7.79 million units in the second quarter, up 16.0% from 6.72 million in the second quarter of 2003. The previous record rate of 7.36 million units was set in the third quarter of 2003. The biggest year-to-year gains were recorded in Nevada, where the resale rate was up 32.5%; Idaho, up 31.0%; and Arizona, up 25.1%. The NAR can be found online at http://realtor.org.