NAR: Existing-home sales retreat 1.8 percent in June
Existing-home sales slipped in June as low supply kept homes selling at a near record pace, but ultimately ended up muting overall activity, according to the National Association of REALTORS (NAR).
Total existing-home sales decreased 1.8 percent to a seasonally adjusted annual rate of 5.52 million in June from 5.62 million in May. Despite last month’s decline, June’s sales pace is 0.7 percent above a year ago, but is the second lowest of 2017.
June existing-home sales in the Northeast fell 2.6 percent to an annual rate of 760,000, but are still 1.3 percent above a year ago.