Keeping you up to date on the latest data releases.
- Existing Home Sales
Existing single-family home sales slipped 1.0 percent to a seasonally-adjusted annual rate of 4.05 million in May (from 4.09 million in April), but are 10.4 percent above the 3.67 million unit level in May 2011. The median sales price was $182,900 in May, up 5.1 percent from last month and 7.7 percent over the past 12-months. The monthly supply and inventory of available homes for sale rose 1.6 percent and 1.4 percent, respectively. Inventory shortages in certain areas have been building all year, and this slight pullback in monthly home sales is more likely due to supply constraints rather than softening demand.