Sales Of Existing Homes Drop To Slowest Pace In 4 Years - NewsOn6.com - Tulsa, OK - News, Weather, Video and Sports - KOTV.com |

Sales Of Existing Homes Drop To Slowest Pace In 4 Years

Updated:
WASHINGTON (AP) _ Reflecting further housing troubles, sales of existing homes fell in May to the lowest level in four years while the median home price dropped for a record 10th consecutive month.

The National Association of Realtors reported Monday that sales of existing single-family homes and condominiums dropped by 0.3 percent to 5.99 million units in May, the slowest sales pace since June of 2003.

The median price of a home sold last month dropped to $223,700, down 2.1 percent from a year ago. It marked the 10th straight price decline compared with a year ago, the longest stretch of weakness on record.
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