Existing home sales declined 0.7% in May to a seasonally adjusted annual rate of 4.11 million, the National Association of Realtors reported today. Sales also fell 2.8% from a year ago. Total housing inventory in May was 1.28 million units, up 6.7% from the prior month. The median home price was $ 419,300, up 5.8% from the previous year and the highest price ever recorded.
Fed releases formal proposal to create ‘skinny’ master accounts
After previously seeking public input on the idea, the Federal Reserve issued a formal proposal for establishing payment accounts and will seek further comment.









