U.S. existing-home sales fell 2.7% from the previous month to a seasonally adjusted

annual rate of 3.93 million, according to the National Association of REALTORS® (NAR).

Sales were unchanged from one year earlier. Regionally, monthly sales declined in the

Midwest, Northeast, and South but rose in the West. Year-over-year, sales decreased in the

Northeast and West but increased in the South and Midwest.

New Listings in Staten Island decreased 32.1 percent to 332. Pending Sales were down

30.1 percent to 244. Inventory levels fell 38.8 percent to 870 units. Prices were a tad soft.

The Median Sales Price decreased 2.9 percent to $684,800. Days on Market was up 1.9

percent to 71 days. Sellers were encouraged as Months Supply of Inventory was down 33.0

percent to 3.1 months.

Nationally, the median existing-home sales price rose 2.0% year-over-year to $435,300, a

new monthly high and the 24th consecutive month of annual price gains, according to NAR.

Slower sales activity has contributed to rising inventory this year, with 1.53 million

properties listed for sale heading into July, a 15.9% increase from the same time last year

and equivalent to a 4.7-month supply at the current sales pace.