Resales Seen Rising 8.9% Over Last Year

Existing single-family home sales should exceed an annual rate of 3.1 million units this year, an 8.9% increase over last year’s 2.87-million-unit total, according to the Ticor Index, published in Ticor’s latest quarterly Forecast.

This year’s home resale volume should be the best since 1979, when 3.8 million resales were recorded, the publication said, noting that it will reflect current lower interest rates.

June’s index increased 8.2 points above May’s, putting it at a level 7.1 points above the mark for June, 1984. The June index, at 101.6, was the highest since February, 1984, when it reached 102.3, Forecast added.