Existing Home Sales Down 5.4% in June

The National Association of Realtors is reporting that existing home sales were down 5.4% in June to a seasonally-adjusted annual rate of 5.12 million (down 14.2% year over year). Total housing inventory at the end of June was 1,260,000 units, up 2.4% from one year ago. Unsold inventory sits at a 3-month supply at the current sales rate with properties remaining on the market for around 14 days. The median existing-home price for all housing types in June was $416k, up 13.4% from one year ago. Continue reading HERE...