x

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.

RELATED

WASHINGTON (AP) — America’s employers added a surprisingly strong 254,000 jobs in September, the latest evidence that the U.

herald

Top Stories

Columnists

A pregnant woman was driving in the HOV lane near Dallas.

General News

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

Video

Spider Lovers Scurry to Colorado Town in Search of Mating Tarantulas and Community

LA JUNTA, Colo. (AP) — Love is in the air on the Colorado plains — the kind that makes your heart beat a bit faster, quickens your step and makes the hair on the back of your neck stand up.

NEW YORK – During his recent visit to New York to participate in the opening session of the UN General Assembly, Prime Minister Kyriakos Mitsotakis visited a fast-food stand owned by a Greek-American entrepreneur.

BOSTON – Noted businessman and well-known philanthropist Michael Psaros of New York will be honored in Athens on Monday, October 14 by the International Foundation for Greece at the Acropolis Museum.

LIMASSOL, Cyprus - With Cyprus preparing to take in people in Lebanon trying to get away from a spreading conflict that has seen Israel launch air strikes and ground movements hunting Hezbollah terrorists, about 80 Chinese citizens and their families were taken to the island.

CORINTH, Greece - A Deputy Mayor in Evrostina in the Corinth region of the Peloponnese suspected of accidentally starting a fire while tending to bee hives, the blaze destroying 16,062 acres and killing two was fined 3,000 euros ($3,308) will face additional charges.

espa

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. [email protected]

You may unsubscribe at any time using the link in our newsletter.