Home sales in the US secondary market in May fell better than forecast

The number of home purchase and sale transactions in the US secondary market in May decreased by 0.9% compared to April – to 5.8 million, according to a report by the National Association of Realtors (NAR).

Analysts polled by the Daily FX portal had expected a decline to 5.72 million.

The release clarifies that the average price for housing of all types in May 2021 increased in annual terms by 23.6%, which is a record figure.

In particular, sales of single-family homes in the United States amounted to 5.08 million in the reporting month. In monthly terms, there was a decrease of 1%, and in annual terms – an increase of 39.2%. The average cost of such houses in the country increased in annual terms by 24.4%, to 356.6 thousand dollars.

In addition, the number of sales of condominiums and apartments in May was 720 thousand, as in April. The indicator was 100% higher than last year. The average price of such real estate increased by 21.5% in annual terms, to 306 thousand dollars.

Also, according to the association, the share of distressed real estate on the market was less than 1%, unchanged from April, but decreased compared to the level of May 2020 by 3%.

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Author: Steve Cowan
Graduated From Princeton University. He has been at the Free Press since October 2014. Previously worked as a regional entertainment editor.
Function: Chief-Editor
Steve Cowan

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