(Reuters) - The inventory of homes for sale rose 5.0 percent to 4.43
million units at the end of May which represents a 8.9 months'
supply at the current sales pace. That is the highest months'
supply since June 1992, although the 1992 figure only includes
single-family homes while the current data also includes
condos.
Economists polled by Reuters were expecting home resales to
fall to a 5.98 million-unit pace from the 5.99 million-unit
rate initially reported for April. The April sales pace was
revised to a 6.01 million unit rate.
Read more at Reuters.com Economic News
million units at the end of May which represents a 8.9 months'
supply at the current sales pace. That is the highest months'
supply since June 1992, although the 1992 figure only includes
single-family homes while the current data also includes
condos.
Economists polled by Reuters were expecting home resales to
fall to a 5.98 million-unit pace from the 5.99 million-unit
rate initially reported for April. The April sales pace was
revised to a 6.01 million unit rate.
Read more at Reuters.com Economic News
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