U.S. existing-home sales dipped 0.5% month-over-month and 2.0% year-over year to a seasonally adjusted annual rate of 4.00 million units, according to the National Association of REALTORS® (NAR). Sales increased in the Midwest, decreased in the West and Northeast, and were unchanged in the South. Year-over-year, sales were down in every region except the Northeast.
• Single Family Closed Sales were down 0.5 percent to 4,963.
• Townhouse-Condo Closed Sales were up 2.1 percent to 1,887.
• Adult Communities Closed Sales were down 3.1 percent to 650.
• Single Family Median Sales Price increased 7.1 percent to $600,000.
• Townhouse-Condo Median Sales Price increased 0.2 percent to $420,000.
• Adult Communities Median Sales Price increased 6.1 percent to $380,000.
There were 1.45 million units actively for sale heading into May, a 9.0% increase from the previous month and a 20.8% improvement from the same time last year, for a 4.4-month supply at the current sales pace, according to NAR. The median existing-home price edged up 1.8% year-over-year to $414,000 as of last measure, the 22nd cons