In response to:

The Factor Driving Home Sales: Fear

Anthony444 Wrote: Aug 24, 2012 1:25 PM
It's an Obamanation! Why didn't I think of it before? If American's are so smart, why would they elect a poser like Pres. Obama? Well, they weren't given much of a choice with the Republicans clown ticket, but Obama was total BS. If he was a rich white guy like John Kerry, I'd say the same thing.

The National Association of Realtors reports home sales up 10.4% in July of 2012 compared to July 2011. The median sale price was up to $187,300.

Unemployment was also up in July. So if there are fewer people working able to qualify for a home purchase, the rising number of home sales has to be due to record low interest rates and pent up demand. That and investors snatching up short sales and foreclosed properties.

Lawrence Yun chief economist for the National Association of Realtors said; “However, the market is constrained by unnecessarily tight lending standards and shrinking inventory...