Texas existing home sales fall to lowest level since 2012

  • Contributed/According to the National Association of Realtors (NAR), existing-home sales across the country fell for the third consecutive month in May, slumping 27 percent year over year.
    Contributed/According to the National Association of Realtors (NAR), existing-home sales across the country fell for the third consecutive month in May, slumping 27 percent year over year.
After accounting for seasonal factors, existing homes sold through Texas Multiple Listing Services fell to their lowest level since 2012 amid public health precautions and social distancing measures. “The month of May marked the housing market’s deepest decline thus far during the ongoing COVID-19 pandemic,” said Dr. James Gaines, chief economist for the Real Estate Center at Texas A&M…

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