Existing home sales bottom, Realtors forecast housing-market recovery - Business Insider

Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.Existing home sales slumped 9.7% to a seasonally adjusted annual rate of 3.91 million units in May, the National Association of Realtors said Monday.

"Home sales will surely rise in the upcoming months with the economy reopening," Lawrence Yun, chief economist at the NAR, said in aNew home construction needs to pick up through the summer to meet demand and avoid a price spike, Yun added.Existing home sales tanked 9.7% in May but a housing-market recovery is on the horizon, the National Association of Realtors said Monday.

"Sales completed in May reflect contract signings in March and April — during the strictest times of the pandemic lockdown and hence the cyclical low point," Lawrence Yun, chief economist at the NAR, said in a Economists were also optimistic despite the May report falling below expectations. Experts expected sales to land at 4.09 million last month, according to Pantheon Macroeconomics, but the miss isn't cause for concern.

Rise sequentially m/m, sure. Rise y/y with headwinds of low supply, rising prices, tighter credit, U6 unemployment at 21%. That will be a miracle.

More existing homes than people who can afford them. Still building more.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Existing home sales drop in May, but signs point to a big rebound in the real-estate market this summerU.S. existing-home sales fall in May, but there are upbeat signs for summer
La source: MarketWatch - 🏆 3. / 97 Lire la suite »

Facebook drops censorship tools for Workplace - Business Insider - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. So deleteFacbook Ohhhh you can’t because you love being in everyone’s business.... 😂
La source: BusinessInsider - 🏆 729. / 51 Lire la suite »

Russian Navy ship turned luxury superyacht Olivia on sale for $27 million - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
La source: BusinessInsider - 🏆 729. / 51 Lire la suite »

Stock market crash: Retail trading 'zombie' bubble to pop despite Fed - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Go short! I must say this bear missed the rally and now regretting.
La source: BusinessInsider - 🏆 729. / 51 Lire la suite »

Floating homes by Grimshaw are sustainable and off the grid - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Was Obama's $20m east coast mansion on the ocean also designed for rising sea levels or Al Gore's on the ocean in California. Do as they say not as they do? Gosh that's bleak
La source: BusinessInsider - 🏆 729. / 51 Lire la suite »