XSTHMS - Existing Home Sales; 051911

The National Association of Realtors announced its existing home sales statistics for April-2011. From the release...

Existing-home sales slipped in April, although the market has managed six gains in the past nine months, according to the National Association of Realtors.

Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, eased 0.8 percent to a seasonally adjusted annual rate of 5.05 million in April from a downwardly revised 5.09 million in March, and are 12.9 percent below a 5.80 million pace in April 2010; sales surged in April and May of 2010 in response to the home buyer tax credit.

The outcome was below the consensus estimate. Briefing.com reported the consensus estimate at 5.23 million units.