(Reuters) - Sales were off 0.3 percent in May and hit their lowest level since June 2003 when the pace was 5.94 million units.
The inventory of homes for sale rose 5.0 percent to 4.43 million units at the end of May which represents 8.9 months' supply at the current sales pace. That is the highest months' supply since June 1992, although the 1992 figure only includes single-family homes while the current data also includes condos.
Read more at Reuters.com Business News
The inventory of homes for sale rose 5.0 percent to 4.43 million units at the end of May which represents 8.9 months' supply at the current sales pace. That is the highest months' supply since June 1992, although the 1992 figure only includes single-family homes while the current data also includes condos.
Read more at Reuters.com Business News
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