U.S. Existing Home Sales Fell 5.1% In June
U.S. Existing home sales fell 5.1% to 5.37 million units SAAR. Consensus was at 5.1 million.
Total housing inventory is at 4.0 million units vs. 3.9 million units in May
Months supply rose from 8.3 to 8.9 months.
Chart 1. Existing Home Sales
Source: NAR
Chart 2. Existing Home Sales Inventory & Existing Home Sales Months Supply SAAR
Source: NAR
Existing Home Sales, Existing Home Sales Inventory, Existing Home Sales Months Supply