US existing home sales up 0.2% in May - Breaking The News

US existing home sales up 0.2% in May

22 June

1 min read

EPA/LARRY W. SMITH

Existing home sales in the United States increased 0.2% in May compared to the previous month, reaching a seasonally adjusted annual rate of 4.3 million, the National Association of Realtors (NAR) stated in a report on Thursday.

Meanwhile, sales dropped 20.4% compared to a year ago when they stood at 5.4 million. The median existing-home price for all housing types in May was $396,100, down 3.1% from the same month in 2022. Total housing inventory at the end of May rose 3.8% to 1.08 million.

"Mortgage rates heavily influence the direction of home sales," Lawrence Yun, NAR's chief economist stated. "Relatively steady rates have led to several consecutive months of consistent home sales," he added.

existing home sales data

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