Existing-Home Sales Slip, but Inventory Stirs

Barely budging against imbalanced inventory, existing-home sales slipped at the start of summer, the National Association of REALTORS® (NAR) reports. Activity in June declined 0.6 percent to 5.38 million, down 2.2 percent from the prior year; however, inventory increased 4.3 percent to 1.95 million, and is 0.5 percent higher than the prior year—the first increase year-over-year since June 2015.“It’s important to note that despite the modest year-over-year rise in inventory,