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Wall Street had expected resales to come in at a 4.5 million-unit pace, the same rate as reported for January, which was down from 4.7 million in December.
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Ms. Liebman said she did not expect resale inventory to replenish itself anytime soon, particularly on the Upper West Side.
Economists polled by Reuters had expected home resales to increase to an annual rate of 5.15 million units in July.
Wall Street had expected home resales to rise to a 4.8 million-unit pace, from the 4.7 million rate initially reported for December, which was unchanged.
There will be another change Jan . 1 when the number of new second homes will be set at a maximum of 20 percent of available accommodation in Swiss communities, which is expected to make resales and building lots more desirable.
Because many of these projects are new, it is too early to tell whether they will appreciate, but developers say they expect healthy resale values.
Go to the county assessor's office and study recent sales for price-per-square foot and time spent on market to determine what sort of price you can expect at resale.
There are other questions to consider, including the ease of use, software availability, expected product life and resale value.
Prices in the region aren't anticipated to fall, but their growth has slowed, with the average resale price expected to grow by 1.4 percent in 2013, versus almost 4 percent the year before, according to the report.
The 10 vehicles from the 2013 model year expected to achieve the best resale value were, in alphabetical order by brand: the Honda Civic and CR-V; Jeep Wrangler; Lexus LX Porsche Cayenne Scionon tC; and four Toyotas: the FJ Cruiser, Land Cruiser, Tacoma and 4Runner.
This year ticket resales in America are expected to top $3 billion.
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