Existing-home sales plummet 15.3% in May

In May, 57 percent of U.S. homes were worth. Even so, analysts don’t expect values to plummet again as they did between 2005 and late 2008. On a national level, existing-home sales have slowed.

 · After seeing gains in previous months, existing home sales dropped suddenly in December, seeing double-digit losses from the year before. Due to the prolonged government shutdown, some might wonder what the effect has been on real estate, and if it is to blame for the decrease in home sales.

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Buyers who thought they were getting around 4.25 percent in October may be hit with sticker shock when they realize what they can actually get. We’ve seen applications to refi plummet over. into a.

Housing Market Worsens As New Home Sales Collapse Existing home sales plummet as supply shortages persist. single-family home sales in the West and Midwest show the largest drops.. Cute midcentury designed by Cliff May asks $468K.

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When compared to last year, May pending previously owned home sales jumped more than 15.3%. Pre-existing home sales are an important statistic to watch. Currently, about 93% of the housing market in.

 · The NAR’s tally shows existing-home sales in August increased to a seasonally adjusted annual rate of 4.82 million, up 7.8% from 4.47 million in July. Compared with a year ago, the rate of sales is up 9.3%. total existing-home sales are defined as completed transactions that include single-family homes, townhomes, condominiums and co-ops.

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The great real estate debate will certainly rage on today, as Existing Home Sales on Tuesday were reported. would have you know that this May was still 15.3% short of May of 2010. Last year’s sales.

Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, were at a seasonally adjusted annual rate of 5.66 million units in May, down 2.

Existing-home sales fell 15.3% in May from a year ago, with the National Association of Realtors recording sales at the seasonally adjusted annual rate of 4.81 million units last month, down from.

The National Association of REALTORS® advocates every day on behalf of the nation’s 1.3 million REALTORS® and 75 million property owners. NAR is widely considered one of the most effective advocacy organizations in the country.

The average mortgage rate in April hit its lowest mark in more than a year, but that didn’t stop home-sales from sliding..