[gubamyster]

Sales of existing homes fell in May, and more declines are expected

PUBLISHED TUE, JUN 21 2022 10:00 AM EDTUPDATED 11 MIN AGO

Diana Olick

FTA
Sales of existing homes in May fell 3.4% to a seasonally adjusted annualized rate of 5.41 million units, according to the National Association of Realtors.

This is the weakest reading since June 2020, which was during the early months of the pandemic. Adjusting for that, it is the lowest since January 2020.

“I do anticipate a further decline in home sales,” said Lawrence Yun, chief economist at the National Association of Realtors.

Sales of existing homes in May fell 3.4% to a seasonally adjusted annualized rate of 5.41 million units, according to the National Association of Realtors.

Sales were 8.6% lower than in May 2021. April’s sales were revised slightly lower as well.

https://www.cnbc.com/2022/06/21/sales-of-existing-homes-fell-in-may-and-more-declines-are-expected.html

[Rusty0604]

Thanks.

[Freee-dame]

It seems like financial revisions during the Biden ministration usually show that the previous month was worse than originally reported. I seem to recall that during the Trump administration revisions for the previous month usually said that it was actually better than originally reported. Maybe it is my imagination but I don’t think so