Low rates send sales of used houses soaring

Sales of existing houses in the first half of 1986 were 12.5 percentahead of the same period last year, the National Association ofRealtors reported.

"With mortgage interest rates down nearly two percentage pointsfrom last year, 1.71 million existing homes changed hands the firstsix months this year, compared with 1.52 million in the same periodlast year," noted Clark E. Wallace, president of the NationalAssociation.

"Affordability conditions during the first six months of thisyear were better than at any other time in this decade, luring manyfamilies into the home buying market. As a result, housing was oneof the few bright spots in the over-all economy," Wallace …