Existing Homeꦦ Sales Are Depressed and Inventory is Pi🐲ling Up

Sales of previously owned homes declined in June as inventory piled up, National 🔯Association of Realtors (NAR) data showed Tuesday.

Existing home sales fell from the month prior to an annually adjusted rate of 3.89 million in June, the report showed. It was lower than the 3.95 million economists surveyed by the Wall Street Journal and Dow Jones Newswire expected.

The 5.4% decline 澳洲幸运5开奖号码历史查询:was the fourth straight and sales fell the same amount year-over-year.

At the same time, there were 1.32 million single-family homes, townhomes, condominiums and co-ops on the mᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚarket, an increase of 3.1% from May and almost 25% higher from the same time a year ago.

“We're seeing a slow shift from a seller's market to a buyer's market. Homes are sitting on the market a bit longer, and sellers are receiving fewer offers,” said NAR Chief Economist Lawrence Yun. “More buyers are insisting on home inspections and appraisals, and inventory is definitively rising on a national basis.”

-Terry Lane