Home sales in the US secondary market in May decreased by 9.7%, worse than forecast

Today in the United States published a report of the National Association of Realtors (NAR), traditionally important for the dynamics of the US dollar in the context of the crisis caused by the coronavirus pandemic. According to recent data, home sales in the secondary market in May fell by 9.7% compared with April, to 3.91 million.

Analysts polled by Reuters expected a 3% drop in the number of such deals, to 4.12 million.

In addition, the share of distressed real estate in this market in May amounted to 3%, which generally corresponds to the level of April, but above 2% in May 2019. Sales of single family homes amounted to 3.57 million, in monthly terms there was a decrease of 9.4%, in annual terms – by 24.8%.