Reported 8 months ago
The National Association of Realtors will release a snapshot of monthly US existing home sales, with economists predicting a decrease for May due to high interest rates and low inventory. ResiClub CEO Lance Lambert notes a historic deterioration in affordability with rates rising sharply, impacting the housing market's churn and turnover. Despite some signs of relief with rising inventory in some regions, existing home sales have yet to reflect this change, and some markets may see price corrections as inventory increases.
Source: YAHOO