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What You Need To Know About The June Housing Slide

Jul 23, 2010, 12:34 AM 

Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, fell 5.1 per cent to a seasonally adjusted annual rate of 5.37 million units in June from 5.66 million in May, but are 9.8 per cent higher than the 4.89 million-unit pace in June 2009. Total housing inventory at the end of June rose 2.5 per cent to 3.99 million existing homes available for sale, which represents an 8.9-month supply at the current sales pace, up from an 8.3-month supply in May. 


Inventory is not seasonally adjusted and there is a clear seasonal pattern with inventory increasing in the spring and into the summer. I’ll have more on inventory later …

The last graph shows the ‘months of supply’ metric.





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