Existing home sales fall again despite gain in for-sale inventory

Source: MPA — 

Existing-home sales, weighed down by rising prices and low inventory, fell for the fourth consecutive month in May.

According to the National Association of Realtors, total existing-home sales were down 0.9% to an annual pace of 5.80 million – the slowest month-over-month rate since June 2020. Year over year, sales were up 44.6% to an annualized rate of 4.01 million.