Existing Homes Sales in May: Big Bounce from “Strangely-Low” April

From housing economist Tom Lawler: Based on local realtor/MLS reports from across the country released thru today, I estimate that existing home sales as measured by the National Association of Realtors ran at a seasonally adjusted annual rate of 5.29 million in May, up 5.0% from April's "strangely low" (and probably too low; see yesterday's report ) pace, and up 8.0% from last May's seasonally adjusted pace. Realtor/MLS reports also suggest that inventories as measured by the NAR increased by a slightly smaller amount this May compared to last May, and I estimate that the NAR's inventory......(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web http://ift.tt/1KLF0Fk
via IFTTT