Sales of previously occupied homes rose modestly from April to May, but signs of recovery are fragile at best. James Island Real Estate sales show the same modest boost that the national numbers reflect. The National Association of Realtors said that home sales rose 2.4%, missing analyst expectations and sending the stock market lower.
The key statement coming from this news came from Paul Dales, US economist with Capital Economics who wrote, “While activity has stabilized, a meaningful recovery has yet to begin.”
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