Existing-home sales down in 2.6 percent in June
Investors, Market, News | (0)
Sales of existing homes slowed more than expected, according to the latest monthly report by the National Association of Realtors.
In June, the pace of home sales nationwide dropped 2.6 percent from May to a seasonally-adjusted annual pace of 4.86 million. Economists had predicted that sales would drop to 4.95 million. The rate was 15.5 percent below the number of homes sold last year.
In the south, existing homes sales fell 3.1 percent from May for a year-over-year decline of 18.1 percent.
More troubling for homeowners and real estate investors looking to sell their properties, the number of homes on the market swelled ...
