The pace of seasonally adjusted existing-home sales in the U.S. fell 1.2 percent from a downwardly revised pace of 5.14 million in May to a 5.08 million pace in June but remains 15.2 percent above the 4.41 million unit pace recorded in June 2012.
Total housing inventory at the end of March increased 1.9 percent to 2.19 million existing homes actively on the market, a 5.2 month supply and up from a 5.0 month supply in May but versus a 6.4 month supply in June 2012. On a national level, around six months of inventory has historically been considered to be a “balanced” market.
The median sale price for existing-homes was up 3.0 percent in June from $208,000 to $214,200, up 13.5 percent year-over-year versus 11.6 percent in May as distressed sales accounted for 15 percent of sales volume, down from 18 percent in May and 26 percent in June 2012.
Existing-home sales in the west fell 1.6 percent from May to June but remain up 11.0 percent on a year-over-year basis with a median sales price that’s 19.9 percent higher on a year-over-year basis.
June Existing-Home Sales Slip; Prices Up []

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