Washington, Jun 22 (AP) Existing home sales in the US plunged 9.7% in May. It was the third straight monthly decline and further evidence of the harm the virus pandemic has done to the housing market.

The National Association of Realtors said Monday that the monthly decline pushed sales down to a seasonally adjusted annual rate of 3.91 million, the slowest pace since a home buyers tax credit expired in October 2010.

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Sales fell in all regions of the country, with the biggest decline coming in the Northeast where virus infections were especially heavy.

Sales of both existing and new homes have fallen sharply during the spring sales season as the housing market was hurt by the shutdowns put into effect to help contain the spread of the virus. (AP)

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)