by Calculated Risk on 6/23/2025 10:50:00 AM

Today, in the CalculatedRisk Real Estate Newsletter: NAR: Existing-Home Sales Increased to 4.03 million SAAR in May; Down 0.7% YoY

Excerpt:

Sales in May (4.03 million SAAR) were up 0.8% from the previous month and were 0.7% below the May 2024 sales rate. This was the 4th consecutive month with a year-over-year decline in sales. ... The sales rate was above the consensus forecast (but right at housing economist Tom Lawler’s estimate).
...
Sales Year-over-Year and Not Seasonally Adjusted (NSA)

The fourth graph shows existing home sales by month for 2024 and 2025.

Sales decreased 0.7% year-over-year compared to May 2024.  This was the 4th consecutive month with a year-over-year decline.  The next four months will have the easiest year-over-year comparisons.
...
On an NSA basis for the month of May, this was 3% above the low for housing bust for the month of May that happened in May 2009. Year-to-date, sales are down 2.8% NSA.

There is much more in the article.