Boston Real Estate Investors Association

Existing-Home Sales Drop 3.3% in June

The National Association of Realtors is reporting that existing home sales were down 3.3% in June to a seasonally-adjusted annual rate of 4.16 million (down 18.9% year over year).  Total housing inventory at the end of June was 1.08 million units, the same as May but down 13.6% from one year ago.  Unsold inventory sits at a 3.1-month supply at the current sales rate with properties remaining on the market for around 18 days.  The median existing-home price for all housing types in June was $410,200, down 0.9% from one year ago.  The NAR said

“The first half of the year was a downer for sure with sales lower by 23%…Fewer Americans were on the move despite the usual life-changing circumstances. The pent-up demand will surely be realized soon, especially if mortgage rates and inventory move favorably.”  Said the NAR’s Chief Economist Lawrence Yun. 

existing home sales 6-23

Click here to read the full report at the National Association of Realtors.



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