Existing-home sales decline for fifth time in six months

By Reade Pickert May 21, 2019 (Bloomberg) — Sales of previously owned U.S. homes unexpectedly cooled in April, the fifth drop in six months, signaling a rocky start for the housing market this quarter amid a still-tight supply of available properties.

Existing home sales ended a six-month skid in October. South and West – a reversal from last month’s steep decline or plateau in all regions – helped overall sales activity rise for the first time.

 · The story behind the November 2012 existing home sales data is that the number of months of inventory was less than five months – the lowest since the market peaked in September 2005. Real estate economists generally contend that six months of inventory of existing homes is normal, and that at less than that level, we see home prices rise at a rate greater than inflation.

The National Association of Realtors said on Friday that existing home. for six straight months. A dearth of properties for sale has pushed up prices, sidelining many would-be homeowners. Sales.

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after a 0.8% decline Gauge fell 3.1% from August 2016 on unadjusted basis Contract signings in the South were affected by Harvey, NAR says A limited number of properties for sale fueled declines in.

Existing-home sales rose. the temporary but slight decline in mortgage rates.” total housing inventory at the end of May climbed 2.2 percent to 2.28 million existing homes available for sale, which.

WASHINGTON (May 21, 2019) – Existing-home sales saw a minor decline in April, continuing March’s drop in sales, according to the National Association of Realtors.Two of the four major U.S. regions saw a slight dip in sales, while the West saw growth and the Midwest essentially bore no changes last month.

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Housing Bubble 2.0 -  Rate Hikes Halted - Existing Home Sales Surge - US Housing Hits A Brick Wall U.S. Existing-Home Sales Decline for Fifth Time in Six Months Reade Pickert , Bloomberg News A prospective home buyer looks out the master bedroom window at a house for sale in Dunlap, Illinois.

Inventory shortages of homes for sale are a large and growing problem, even though it sure seems like a good time to be a home seller. According to the National Association of REALTORS® (NAR), as of November 2017, home prices have been rising year-over-year for.