Home sales just posted their slowest May in 16 years

The home sales slump in the U.S. continues: Last month was the slowest May for existing home sales since 2009.

Existing home sales in May fell 0.7% compared to the same month last year. Measured monthly, sales were up slightly, 0.8%, from the month before — but that marks an increase from the slowest April for existing home sales in 16 years.