Consistent with most post-home buyer tax credit housing news, Existing Home Sales eased lower last month. The 5 percent drop in sales was expected, but a closer look at the month's data reveals some interesting trends.
On the surface, May's Pending Home Sales Index looks terrible for housing. And, if you're a seller, it just might be. But, if you're a buyer, the story reads differently. Just consider the market conditions.
According to the National Association of RealtorsÂ®, although the number of homes sold ticked higher in April, so did the supply of existing homes for sale, too. Sellers are now listing homes faster than buyers can buy them.