Existing-Home Sales Drop 3.3% in June

The National Association of Realtors is reporting that existing home sales were down 3.3% in June to a seasonally-adjusted annual rate of 4.16 million (down 18.9% year over year). Total housing inventory at the end of June was 1.08 million units, the same as May but down 13.6% from one year ago. Unsold inventory sits at a 3.1-month supply at the current sales rate with properties remaining on the market for around 18 days. Continue reading HERE...