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Existing Home Sales Surge into Summer [INFOGRAPHIC]

Existing Home Sales Surge into Summer [INFOGRAPHIC] | Keeping Current Matters

Some Highlights:

  • Existing Home Sales reached their third highest mark this year in May.
  • Inventory of homes for sale has dropped 8.4% since last year, marking the 24th consecutive month of year-over-year declines.
  • NAR’s Chief Economist, Lawrence Yun had this to say: “Those able to close on a home last month are probably feeling both happy and relieved. Listings in the affordable price range are scarce, homes are coming off the market at an extremely fast pace and the prevalence of multiple offers in some markets are pushing prices higher.”

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1 reply
  1. Troy Erickson
    Troy Erickson says:

    Homes are still selling very fast, and for increased sales prices. Some of the reasons for this are the lack of inventory of homes for sale, and the interest rates remaining very low.

    Reply

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