U.S. Home Sales Stall as Buyer Stampede Leaves Scant Inventory
Photographer: Jeremy Erickson/Bloomberg
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In the most competitive housing market in U.S. history, sales are beginning to stall.
Home transactions fell 1.2% in June from May, the largest drop for the month in records going back to 2012, according to seasonally adjusted data from Redfin Corp. The inventory reached an all-time low, with buyers scooping up properties in 14 days, the fastest pace ever.