Home sales down again

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Good morning. Home sales across the country dipped again in June, according to the monthly National Assn. of Realtors report that’s summarized at Inman News.

In brief: ‘Sales of existing homes fell 11.4% in June compared to a year ago, to a seasonally adjusted annual rate of 5.75 million homes, the National Assn. of Realtors reported today.’

The annual rate is down sharply from May’s rate of 5.98 million home sales per year. Home sales peaked at 7.03 million in 2005.

In the West: sales were down 19.1% year-over-year, and the median price slipped 0.4%, to $340,000.

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Photo Credit: Reuters