Existing home sales exceed expectations in the US.

The National Association of Realtors (NAR) announced data on existing home sales for May.

As a result, sales of existing homes in the country rose 0.2 percent on a month to 4.3 million in May, seasonally adjusted. Existing home sales were expected to hit the 4.25 million level in this period.

DECREASED 3.2 PERCENT IN APRIL

Existing home sales fell 3.2 percent in April to 4.29 million.

Second-hand home sales in the country decreased by 20.4 percent in May compared to the same month of the previous year.

Median home prices in the US real estate market also fell 3.1 percent annually in May to $396,100.

NAR Chief Economist Lawrence Yun, whose views were included in the statement, noted that mortgage interest rates greatly affect the direction of home sales, saying the relatively flat rates led to flat home sales for several years. months in a row.

Noting that current inventory has a strong impact on home sales, Yun noted that pre-owned home sales activity has slowed considerably as supply is roughly half that of 2019. (BRITISH AUTOMOBILE CLUB)