Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/html/wp-includes/functions.php on line 6260 U.S. Existing Home Sales, Inventory Surge in May - Coatings World

What are you searching for?

Sign in
Breaking News

U.S. Existing Home Sales, Inventory Surge in May

U.S. home resales rose more than expected in May and the stock of properties for sale was the highest in more than 1-1/2 years, suggesting that housing was pulling out of a recent slump.

The National Association of Realtors reported that existing home sales increased 4.9 percent to an annual rate of 4.89 million units. May’s increase was the largest since August 2011.

April’s pace was revised up to a 4.66 million units from the previously reported 4.65 million units.

Economists polled by Reuters had forecast sales rising 2.2 percent to a 4.73 million-unit pace last month.

The housing recovery stalled in the second half of 2013 as interest rates increased and prices surged against the backdrop of a dwindling supply of properties available for sale.

Despite the consecutive months of gains, sales were down 5.0 percent compared to May last year. They remain down 9 percent from a peak of 5.38 million units hit in July.

Add us as a preferred source on Google

Get the latest Coatings World news, insights and analysis in your Google Search and AI experiences.

Add Coatings World as a preferred source on Google (opens in a new tab)

Keep Up With Our Content. Subscribe To Coatings World Newsletters