US existing home sales fall again as prices continue to soar
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the National Association of Realtors
NAR
Realtor.com
Freddie Mac.24/7
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Lawrence Yun
George Ratiu
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Americans
COVID-19
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Summary
All-cash transactions, which includes investors and wealthy buyers, made up 23% of sales in May, up from 17% a year ago.“Many first-time buyers are being squeezed by a one-two combo of declining affordability and real estate investors moving into the same price segment,” said George Ratiu, senior economist at Realtor.com.Prices rose so quickly that by May, roughly half of all homes sold were purchased for more than their asking price, according to real estate brokerage Redfin.
As said here by CHRISTOPHER RUGABER AP Economics Writer