Summary
Sales of existing homes fell for a third consecutive month in May, dropping to the lowest level in four years as the median sales price declined for a record 10th consecutive month.
In a troubling sign for the future, the inventory of unsold homes shot up to the highest level in 15 years, meaning more downward pressure on prices in the months ahead until the inventory glut is reduced.See the full content of this document
Extract
Housing Numbers Continue Decline
Sales fell by 0.3 percent in May to a seasonally adjusted annual rate of 5.99 milli...
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