Existing-home sales rose 4.2% in May to a seasonally adjusted annual rate of 5.18 million -- the highest rate since November 2009, when a buyer tax credit deadline approached -- pointing to a continuing recovery, the National Association of Realtors reported Thursday
Sales of existing homes in May were 12.9% higher than during the same period in the prior year
Meanwhile, the median existing-home price hit $208,000 in May, the highest since 2008, with low inventory supporting prices
The median price is up 15.4% from the same period in the prior year, the largest growth since 2005
Economists polled by MarketWatch had expected the pace of existing-home sales to hit a rate of 5 million in May, compared with an April rate of 4.97 million
Inventories rose 3.3% in May to 2.22 million existing homes for sale
The supply declined to 5.1 months in May from 5.2 months in April
The share of the sales accounted for by distressed properties and first-time buyers remained low in May
No hay comentarios:
Publicar un comentario