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Economy

Existing Home Sale Plunge 9.7% in 3rd Straight Monthly Drop

WASHINGTON — Existing home sales in the U.S. plunged 9.7% in May. It was the third straight monthly decline and further evidence of the harm the virus pandemic has done to the housing market.

The National Association of Realtors said Monday that the monthly decline pushed sales down to a seasonally adjusted annual rate of 3.91 million, the slowest pace since a home buyers tax credit expired in October 2010.

Sales fell in all regions of the country, with the biggest decline coming in the Northeast where virus infections were especially heavy. 

Sales of both existing and new homes have fallen sharply during the spring sales season as the housing market was hurt by the shutdowns put into effect to help contain the spread of the virus.

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WASHINGTON — A measure of inflation that is closely tracked by the Federal Reserve jumped 6.

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FALMOUTH, MA – The police in Falmouth have identified the victim in an accident involving a car plunging into the ocean on February 20, NBC10 Boston reported.

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NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

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PHILADELPHIA – The Federation of Hellenic Societies of Philadelphia and Greater Delaware Valley announced that the Evzones, the Presidential Guard of Greece will be participating in the Philadelphia Greek Independence Day Parade on March 20.

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TNΗ’s Happenings of the Week by Eraklis Diamataris

NEW YORK – The National Herald’s Happenings of the Week as have been reported at the print and digital editions of TNH and presented by the TNH Editor Eraklis Diamataris.

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