* National Association of Realtors existing home sales fell 3.8% to 4.81 million units in may, that's from a downwardly revised 5 million units in April.
* Sales were down 15.3% from a year ago. The median home price $166,500, that is down 4.6% year-over-year. and that is largely due to distressed sales.
* Distressed Sales sales made up 31% of the market in May, down from 37% in April.
* Inventories fell 1% to 3.72 million units representing a 9.3 month supply.
* All cash transactions at 30% of the market. first-time home buyers 35% of the market.
* Single families sales fell 3.2%.
* Condos, down 8.1%.
* Regionally, sales down 2.5% in the northeast, 6.4% down in the midwest, down 5% in the south, and flat in the west where all of the distressed sales are happening.
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