US: Total existing-home sales decreased 1.8 percent - National Association of Realtors
|"Existing-home sales slipped in June as low supply kept homes selling at a near record pace but ultimately ended up muting overall activity, ," the National Association of Realtors announced on Monday.
Key highlights:
- Total existing-home sales decreased 1.8 percent to a seasonally adjusted annual rate of 5.52 million in June from 5.62 million in May.
- Despite last month's decline, June's sales pace is 0.7 percent above a year ago, but is the second lowest of 2017 (February, 5.47 million).
- The previous three-month lull in contract activity translated to a pullback in existing sales in June.
- Total housing inventory at the end of June declined 0.5 percent to 1.96 million existing homes available for sale, and is now 7.1 percent lower than a year ago (2.11 million) and has fallen year-over-year for 25 consecutive months.
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