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Home » Existing-Home Sales | MAY ’23

Existing-Home Sales | MAY ’23

Key Highlights:

  • Existing-home sales recorded a minor gain of 0.2% in May to a seasonally adjusted annual rate of 4.30 million. Sales retreated 20.4% from one year ago.
  • The inventory of unsold existing homes grew 3.8% from the previous month to 1.08 million at the end of May, or the equivalent of 3.0 months’ supply at the current monthly sales pace.
  • NAR leaders say a temporary capital gains tax reduction on a sale of investment property can lead to a boost in housing inventory.

Source: National Association of Realtors