US Existing Home Sales Print Weakest May Since 2009
Existing home sales in the US rose by a modest 0.75% MoM in May (better than the -1.3% MoM expected), but remain down 0.75% YoY…
Source: Bloomberg
This is the fourth straight month of YoY declines for existing home sales (down 4% on an unadjusted basis compared with a year ago).
“The relatively subdued sales are largely due to persistently high mortgage rates,” NAR Chief Economist Lawrence Yun said in a statement.
And don’t expect any help from rates going forward…
Source: Bloomberg
Overall, this was the weakest May sales pace since 2009…
Source: Bloomberg
…and the second worst May ever.
“We can no longer blame it on the supply,” Yun said on a call with reporters about the tepid sales pace.
“Supply is showing up, so we can blame it on affordability.”
Meantime, the higher supply has failed to bring down prices. The median sales price last month increased 1.3% from a year ago to $422,800, the highest for any May on record, NAR data show.
Yun noted that the upper end of the market – houses selling for at least $1 million – is no longer outperforming sales of lower-priced houses.
Prices are up 51% from the start of the pandemic five years ago.
First-time buyers made up 30% of closings in May, showing they “are struggling to get into the market,” Yun said.
Interestingly, Yun said Realtors are asking if hedge funds, which make up big share of buyers in Sun Belt states, have been dumping homes on the market lately, causing recent price fluctuations.
Tyler Durden Mon, 06/23/2025 – 10:20
Source: https://freedombunker.com/2025/06/23/us-existing-home-sales-print-weakest-may-since-2009/
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
| Visits: | 1,706,222,327 |
| Stories: | 8,444,867 |
Whistler Blowers, Insiders
