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low home sales activityPBS
•75% Informative
Existing home sales fell 0.7% last month from April to a seasonally adjusted annual rate of 4.11 million .
Sales also fell 2.8% compared with May last year .
Despite the pullback in sales, home prices climbed compared with a year earlier for the 11th month in a row.
The U.S. housing market has been mired in a slump going back to 2022 .
Homebuyers who can afford to sidestep mortgage rates and pay all cash for a home accounted for 28% of sales last month , up from 25% in May last year . And about 16% of homes sold in May were bought by individual investors or homeowners looking to buy a second home, up from 15% a year earlier , the NAR said. Support Provided By: Learn more Support PBS News: Subscribe to Here’s the Deal, our politics newsletter for analysis you won’t find anywhere else. Thank you. Please check your inbox to confirm..
VR Score
85
Informative language
88
Neutral language
69
Article tone
informal
Language
English
Language complexity
36
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
short-lived
External references
no external sources
Source diversity
no sources
Affiliate links
no affiliate links