Existing-home sales dipped in May from the previous month to 4.55 million units, but sales remain above year-ago levels. Also, practitioner confidence in current and future housing market conditions is up from the previous month.
Existing Home Sales Rate for February: 4.9 million. This is a seasonally adjusted annual rate, which is the actual rate of sales for the month, multiplied by 12 and adjusted for seasonal sales differences.
The number of foreclosure notices filed in February dropped 27 percent compared to last February, the largest year-over-year drop ever recorded, RealtyTrac reports. Is this a sign the foreclosure crisis could finally be winding down?