the national association of realtors reports that last month sales of existing homes fell almost 10% compared with april. sales were down about 26% annually. that's the largest annual decline since 1982 when interest rates were about 18%. some good news here, a chief economist for the realtors association says buyers and listings are coming back. >>> sleepless in oakland. a lot of people are dreading what happens when the sun goes down and those illegal fireworks start up. fourth of july is more than a week away, but it's happening in cities across the bay area and the country. here's nbc's melissa colorado. >> there have been a couple that shake the windows, yeah. yeah, when those real major ones go off, and you and the dog jump two feet. >> reporter: it's the nightly soundtrack that leaves this dog trembling. the same illegal light show that has her owner, rob yeager wondering who is behind those thunderous explosives. >> the big mystery seems to be where is everybody -- with all the unemployment, everyone's at home for quarantine, where is everybody getting these professional grad

home was $287000.00 in april up more than 7 percent from a year ago according to the national association of realtors these gains have disproportionate lead gone to the wealthy and white americans while 72 percent of white households own a house a key source of household wealth that's true for 42 percent of blacks and 47 percent of hispanic households the urban institute said this gulf between white and black americans is greater than at any other point in 5 decades according to the report what happened 5 decades ago in 1970 what happened after that so from that with the wealth the money printing has created. it doesn't create real wealth but in an asset base the khana be like our own to financial eyes to con me it puts the cash the capital into the hands of a few so transfers wealth sony divorce the economy from a gold standard and you go on a pure a few money standard and you have the creation as we saw during the reagan years of the derivatives market and the separation of risk and reward you have the ability for these top bankers on wall street to separate risk from reward keep all the reward and

the national association of realtors reports last month sales of existing homes fell almost 10% compared with april. sales were down about 25% annually. that's the largest annual decline since 1982 when interest rates were 18%. good news here, a chief economist for the realtors association say people seem to be ready to recover now because of the massive stimulus package. the association says buyers and listings are coming back. >>> sleepless in oakland. residents are dreading what happens when the sun goes down with the illegal fireworks show start up. they are used to this around july 4th but that's two weeks away. they seem not only earlier but louder than before. melissa colorado joins us from oakland with more. >> reporter: we have talked to a number of people who live near the lake and they say it sounds like it's fourth of july weekend every single night. it didn't take long for us to find evidence of the illegal fireworks including this cardboard packaging where you can see it reads world classifier works and we even found mortars in the water. >> there have been a couple that sh

data from the national association of realtors shows contracts on home sales jumping 44% last month, the largest single month spike since the group started to track in 2001 after two months of steep declines. pent up demand and continued low mortgage rates caused the jump. >>> it's 20 minutes before 6:00, and marching for racial justice one step at a time. how this man is using his message to make a difference on kpix 5 and streaming on cbsn bay area. >>> clear skies for the mt. hamilton camera this morning. we will heat up inland, and we will let you know what to expect in your neighborhood, coming up. >>> and so far so good on the bay bridge toll plaza. no meter lights yet, but brake lights off the east shore >>> new this morning, an alabama man is taking on a huge feat, walking 1,000-miles to minneapolis. terry wallace is trekking to the site where george floyd died. he says the death of george floyd inspired him to make a difference. >> i have been incarcerated, locked up, in handcuffs, and you know, i have that story. black, white, we just need to drop those labels, and we need t

according to the national association of realtors though. they say that is the bottom.hey say we'll see extremely strong second half in 20206789 i can see why they're excited. remember last week the mortgage applications continue to rise led by purchase applications which reached more than a 11-year high. with only a few homes out there, a few months of home supply looks like demand will be strong. we're getting a big shift from the cities to the burbs. we bring in cheryl casone with the latest data, cheryl. reporter: data today which could have been a lot worse, existing home sales plummeted in play as the coronavirus to hammer the economy but realtors say that is the bottom. sales of existing homes in may fell 9.% compared to april to seasonally adjusted annualized rate, 3.1 million units according to nar. sales down 26.6% annually. that is the largest annual decline since 1982, interest rates at the time, remember the 80's? they were 18%. also the slowest pace since october of 2010. these numbers are based on closed sales. represents contracts that were signed in mar

of this bill from the american for financial reform, the national consumer law center, consumer action federation of america, consumer reports, national association of consumer advocates. also the national association of realtors. the speaker pro tempore: without objection, so ordered. ms. waters: i yield back the balance of my time. the speaker pro tempore: the gentlewoman yields back the balance of her time. all time for debate has expired. pursuant to house resolution 1017, the previous question is ordered on the bill as amended. the question is on engrossment and third reading of the bill. so many as are in favor say aye. those opposed, no. the ayes have it. the third reading. the clerk: h.r. 5332, to amend the fair credit reporting act to ensure consumer reporting agencies are providing fair and accurate information reporting in consumer reports, and for other purposes. the speaker pro tempore: pursuant to clause 1-c of rule 19, further consideration of .r. 5332 is postponed. for what purpose does the the gentlewoman from california rise? ms. waters: pursuant to house resolution 1017, i call up h.j.res. 90, providing for congressional disapproval under chapter 8 of title 5 united states code of the rule s

pending home sales in may jumped a remarkable 44.3% month to month that according to the national association of realtors. that's the largest monthly jump on record since they began tracking this in 2001 and blew out expectations of a jump of about 15 % sales had fallen about 22 % in april. sales in may down 5.1% pending sales represent signed contracts. people out shopping during the month of may and that's when mortgage rates started coming down they started the month around 3.2 %. by the start of june they were below 3% the problem is the supply of homes for sale still down 19% annually and new home construction is not ramping up enough. we did see new home sales jump as well. not quite the h 44%. this is a remarkable number. if you look regionally, it was big in the northeast sales up 44% for the month still down 33% year over year. in the west, the biggest gain month to month up 56% and down 2 .5 % year over year. the realtors say they think the recovery is going to continue, but there are red flags if we see a respike in the coronavirus. and people start to pull back again. there's the possibility

the largest increase since 2001 according to the national association of realtors. ing wars for what's available. joining us is the founder and ceo of credible, steven dash. credible is majority owned by our parent company, fox corporation. thank you for being here. what are you seeing in the home loan space right now, steven? >> good morning, maria. yeah, it was a very strong may for pending home sales. double expectations. so expectations were around 1%. when -- 19%. when you look behind the data, it's important to note we're 5% below where we were in may 2019. we're 10% below prepandemic levels of february and it's important to look at the regions as well. in the west, we saw 57% growth in may over april. in the south and in the northeast we saw about 44%. and in the midwest, about 37% which lags the others but still very significant growth. what's driving this of course as you mentioned, low interest rates, pent-up demand, and the economies are reopening so there's an opportunity for people to inspect homes. so very, very strong numbers. maria: give us your advic

that's from the national association of realtors.news from around the country. more businesses are reopening their doors in six states and there they are. massachusetts, by the way, will now allow indoor dining. they are also reopening retail dressing rooms and offices at half capacity. in west virginia, youth sports and other sporting events along with graduation ceremonies can all restart. that's in west virginia. and new jersey, salons can reopen along with public and private club swimming pools. cannon ball. >>> i want to get back to that jobless claims chart, if we can. numbers steadily improving as the country continues to reopen bit by bit but you know what, the high unemployment rates are still plaguing some states. come in, stephen moore. he's on the white house economic recovery task force. stephen, it just so happens when you look at that list, most of the high unemployment states, well, they happen to be blue states. what do you make of that? >> yeah. it's incredible pattern there. you have very few exceptions. the states