Thursday, June 26, 2008

May Existing Home Sales Increase Slightly

by Bill McBride on 6/26/2008 10:03:00 AM

From MarketWatch: U.S. May existing-home sales rise 2% as expected

The U.S. home and condo resales inched higher in May as prices continued to fall, the National Association of Realtors reported Thursday. Resales of U.S. houses and condos rose 2% to a seasonally adjusted annualized rate of 4.99 million in May from 4.89 million in April.
Graphs soon ... (NAR is slow to release the data online again) Update MarketWatch on inventory:
Inventories of unsold homes on the market fell 1.4% to 4.49 million, a 10.8-month supply at the May sales pace. The inventory figures are not seasonally adjusted. Inventories are up 2.4% in the past year.
NAR still hasn't released the data online.