Sale of Existing Homes Up 12%

The sale of existing homes so far this year has exceeded last year’s level by a strong 12.5% to make housing “one of the few bright spots in the overall economy,” the National Assn. of Realtors reported today.

Association President Clark Wallace said that lower interest rates--down nearly 2 percentage points from last year--have improved housing affordability and that 1.71 million existing homes changed hands during the first six months of 1986, compared with 1.52 million in the same period last year.