The NAR said existing condo and co-op sales slipped 2 percent to a seasonally adjusted annual rate of 990,000 units in the third quarter from a record pace of 1.01 million units in the second quarter.
Sales were 5.2 percent above the 941,000-unit level of sales activity in the third quarter of 2003.
David Lereah, NAR's chief economist, said condo sales will easily set a record this year.
The NAR said the median existing condo price was $197,000 in the third quarter, which was 18 percent higher than the same quarter in 2003.
The median is a typical market price where half of the units sold for more and half sold for less. By comparison, the median-priced existing single-family home was $188,500 in the third quarter, up 7.7 percent from a year ago.
Copyright 2004 by United Press International
