Existing-Home Sales Dropped for Fourth Consecutive Month
Existing-home sales retreated for the fourth consecutive month in May, according to the National Association of Realtors. Month-over-month sales declined in three out of four major U.S. regions, while year-over-year sales slipped in all four regions.
Total existing-home sales completed transactions that include single-family homes, townhomes, condominiums and co-ops, fell 3.4% from April to a seasonally adjusted annual rate of 5.41 million in May. Year-over-year, sales receded 8.6% (5.92 million in May 2021).