NAR reports 0.2% increase in May existing home sales
The National Association of Realtors announced existing home sales increased 0.2% in May 2023 when compared to April 2023.
NAR found a 20.4% decrease in home sales from May 2022 compared to May 2023.
NAR’s April 2023 pending home sales numbers by region include:
- Northeast — 2% decrease
- Midwest — 2.9% decrease
- South — 1.5% increase
- West — 2.6% increase
“Mortgage rates heavily influence the direction of home sales,” said Lawrence Yun, NAR chief economist. “Relatively steady rates have led to several consecutive months of consistent home sales. Available inventory strongly impacts home sales, too. Newly constructed homes are selling at a pace reminiscent of pre-pandemic times because of abundant inventory in that sector. However, existing-home sales activity is down sizably due to the current supply being roughly half the level of 2019.”
Photo providedAlneshia Sudduth joined Berkshire Hathaway HomeServices C. Dan Joyner Realtors as sales associate in the company’s Midtown Office.
She worked in the logistics field.
Sudduth is a graduate of the University of Alabama and Clemson University.
Photo providedJake Dickens joined Berkshire Hathaway HomeServices C. Dan Joyner Realtors as a sales associate in the company’s Midtown Office.
He has been a Realtor since 1995 and owned two real estate companies and served in multiple board positions for the Greater Greenville Association of Realtors.
Dickens is a graduate of Presbyterian College.
