homeWelcome, sign in or click here to subscribe.login
     


 

 

Business


Subscriber content preview

June 23, 2021

Existing home sales fall again as prices continue to soar

  • Many first-time buyers are being squeezed by declining affordability and competition from professional real estate investors, according to Realtor.com.
    • By CHRISTOPHER RUGABER
    AP Economics Writer

    WASHINGTON — Sales of previously-occupied homes fell for the fourth straight month in May as soaring prices and a limited number of available properties discouraged many would-be buyers.

    Existing home sales dropped 0.9% last month from April to a seasonally-adjusted annual rate of 5.8 million units, the National Association of Realtors said Tuesday. The string of sales declines comes after sharp gains last fall and through the winter, as many Americans sought more living space during the pandemic. Sales are up nearly 45% from last May, when purchases fell to their lowest point of the COVID-19 outbreak.


     
    . . .


    To read this story in full login or purchase a subscription.



    
    Email or user name:
    Password:
     
    Forgot password? Click here.