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| Existing-Home Sales Backtrack in June |
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Existing-homes sales backtracked in June, posting higher than one year prior but lower than in May, the National Association of REALTORS® (NAR) reports. Existing-home sales totaled 5.52 million, a 1.8 percent decrease from May but a 0.7 percent increase from one year prior. Inventory decreased 0.5 percent to 1.96 million, 7.1 percent below one year prior. "Closings were down in most of the country last month because interested buyers are being tripped up by supply that remains stuck at a meager level and price growth that's straining their budget," says Lawrence Yun, chief economist at NAR. "The demand for buying a home is as strong as it has been since before the Great Recession. ...
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