US existing home sales declined for a third month in May, with rising prices and mortgage rates.
US existing home sales fell for a third consecutive month in May, hitting a record high as prices rose and mortgage rates increased. The National Association of Realtors reported that housing inventory reached its highest level in nearly two years, which could potentially curb further price gains and improve affordability. However, weak home sales, a sharp drop in housing starts and building permits, and persistent affordability challenges have hindered the housing market's recovery.
June 21, 2024
30 Articles