Existing Home Sales Fall 5.4% in The US.
London, Friday, 9 July 2022
A new low since June 2020 and significantly below market expectations of 5.38 million, existing house sales in the US fell by 5.4 percent in June 2022 to a seasonally adjusted annual pace of 5.12 million.
As deteriorating housing affordability continues to have an impact on prospective home buyers, sales fell for a fifth consecutive month.
With the overall housing inventory rising 9.6 percent from May to 1,260,000 units, the median existing-home price for all housing types was $416,000, up 13.4 percent from June 2021. Sales of existing condominiums and co-ops decreased 9.8% to 550,000 units, while sales of single-family homes fell 4.8 percent to 4.57 million.
(Source: National Association of Realtors // Edited by: The Decision Maker)