{"id":445173,"date":"2011-06-21T18:29:33","date_gmt":"2011-06-21T18:29:33","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/06\/21\/us-home-re-sales-down-15-in-may\/"},"modified":"2011-06-21T18:29:33","modified_gmt":"2011-06-21T18:29:33","slug":"us-home-re-sales-down-15-in-may","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/06\/21\/us-home-re-sales-down-15-in-may\/","title":{"rendered":"US home re-sales down 15% in May"},"content":{"rendered":"<p><div readability=\"48.7446808511\"><span><span>21 June 2011<\/span> <span>Last updated at<\/span> <span>14:29 ET<\/span><\/span><\/p>\n<p>Sales of previously occupied US homes fell 15% in May from the previous year, an indication the economic recovery remains halting, analysts said.<\/p>\n<p>Also, the median price for existing homes fell 4.6% in May from May 2010.<\/p>\n<p>The National Association of Realtors put the decline down to rising petrol prices and bad weather in April that kept home shoppers away from sales.<\/p>\n<p>Chief economist Lawrence Yun <a href=\"http:\/\/www.realtor.org\/press_room\/news_releases\/2011\/06\/may_decline\">said in a statement<\/a> that &#8220;overly restrictive&#8221; lending also hampered sales growth.<\/p>\n<p>&#8220;There&#8217;s been a pendulum swing from very loose standards which led to the housing boom to unnecessarily restrictive practices as an over-reaction to the housing correction,&#8221; Mr Yun said. &#8220;This over-reaction is clearly holding back the recovery.&#8221;<\/p>\n<p>A seasonally adjusted 4.81 million existing homes were sold in May, down 3.8% from five million in April, and 15.3% from 5.68 million in May 2010, the National Association of Realtors said.<\/p>\n<p>But the group warned that May 2010 sales were inflated because of the pending expiration of a tax credit for home buyers.<\/p>\n<\/div>\n<p>Go here to see the original:<br \/>\n<a target=\"_blank\" href=\"http:\/\/www.bbc.co.uk\/go\/rss\/int\/news\/-\/news\/world-us-canada-13867867\" title=\"US home re-sales down 15% in May\" rel=\"noopener noreferrer\">US home re-sales down 15% in May<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p> 21 June 2011 Last updated at 14:29 ET Sales of previously occupied US homes fell 15% in May from the previous year, an indication the economic recovery remains halting, analysts said. <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-445173","post","type-post","status-publish","format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - 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