Existing Home Sales nationwide fell to 4.67 million units on a seasonally-adjusted annualized basis last month. It’s the fourth straight month below the 5 million mark, and the report’s lowest reading since November 2010.
According to Census Bureau data, the number of new homes slid 1 percent from May. On a seasonally-adjusted, annualized basis, home buyers bought 312,000 newly-built homes last month.
Home resales slipped for the 3rd straight month, according to data from the National Association of REALTORSÂ®. Sales volume is at an eight-month low.
In its monthly New Home Sales release, the U.S. Department of Commerce showed a 13 percent drop-off in annualized new construction sales between the months of December and January. It’s the biggest one-month drop in New Home Sales since May 2010.
Home resales rose another 2.7 percent last month, according to the National Association of REALTORSÂ® monthly Existing Home Sales report.