Existing home sale plunge 9.7% in 3rd straight monthly drop

WASHINGTON (AP) — Existing home sales in the U.S. plunged 9.7% in May. It was the third straight monthly decline and further evidence of the harm the virus pandemic has done to the housing market.

The National Association of Realtors said Monday that the monthly decline pushed sales down to a seasonally adjusted annual rate of 3.91 million, the slowest pace since a home buyers tax credit expired in October 2010.

Sales fell in all regions of the country, with the biggest decline coming in the Northeast where virus infections were especially heavy.

Sales of both existing and new homes have fallen sharply during the traditional spring selling season as communities were locked down to prevent the spread of the coronavirus.

Source: Existing home sale plunge 9.7% in 3rd straight monthly drop


The article was originally published here!

Comments

Post a Comment

Popular posts from this blog

Pier 1 Closing All Stores For Good, Cites ‘New Reality, Uncertainty Of Post-COVID World’

Image
Pier 1 Imports has become the latest retailer knocked against the ropes by the “new reality” of online shopping and finished off by COVID-19. Nearly 60 years after its first store opened — and three months after filing for bankruptcy — the company announced Tuesday that it wants to close all retail operations “as soon as reasonably possible.” The explosion in online shopping, intense competition from larger chains and the coronavirus pandemic “are requiring us to wind down,” Robert Riesbeck, Pier 1’s chief executive and chief financial officer, said in a statement. “This decision follows months of working to identify a buyer who would continue to operate our business going forward,” Riesbeck said. Source: Pier 1 Closing All Stores For Good, Cites ‘New Reality, Uncertainty Of Post-COVID World’ The article was originally published here!
Read more

Republican gubernatorial candidate, a physician, goes to court to stop youth COVID vaccinations

Scott Jensen, a prominent Minnesota Republican candidate for governor with a track record of COVID-19 theories not shared by the medical community, has signed onto an effort to stop vaccinations for 12- to 16-year-olds. Jensen, a family physician from Chaska who served in the state Senate from 2017 to 2021, is the first named plaintiff in a petition filed in federal court in Alabama by America’s Frontline Doctors, a group that has attempted to diminish the pandemic that has killed more than 590,000 Americans and pushed misleading and false information about the coronavirus, its lethality and debunked treatments and preventions, such as the use of hydroxychloroquine. The group’s leader, Simone Gold, was among those who entered the U.S. Capitol during the Jan. 6 insurrection that sought to halt the certification of President Joe Biden’s victory over then-President Donald Trump, Gold has confirmed to the Washington Post . She was later arrested and faces charges of entering a restric...
Read more