Sales of previously owned homes are still lower than usual. The annualized rate in May was the lowest since 2009.

The drop in existing-home sales counters the positive numbers in new-home sales announced this week. New homes sold at an annual rate of 724,000 in March, a 6% rise compared to the same month in 2024.

This spring and summer are shaping up to be very tough for the real estate market,” said one economist at Navy Federal Credit ...

Sales of existing US homes pulled back more than expected in March, logging their biggest drop since late-2022 according to industry data released Thursday, as high mortgage rates weighed on ...