2015-06-30 — wsj.com
NAR reported a sharp pickup in existing home sales following a dip in April. Sales of existing homes soared 5.1% in May to a seasonally adjusted rate of 5.35 million, the highest level since November 2009, a time when government incentives in the wake of the recession boosted the real-estate market. This year's sales have exceeded last year's for eight straight months and stand at 9.2% above last year..
But existing home sales, which account for about 90% of the market, are still well below their prerecession peak, when they routinely exceeded 6 million and even topped 7 million for part of 2005.
This may be a blow-off peak before the Fed-induced liquidity bubble pops...
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