Existing home sales fell 0.4 percent to ~5.19 million annual rate according to the National Association of Realtors. 32 percent of sales went to first-time home buyers as housing market inventory remains tight. The median existing home price was up 3.6 percent to $267,000 compared to last year. This data was below expectations and the trend could be fueled by near-record prices keeping buyers on the sidelines.
