US May existing home sales 4.30M vs 4.25M expected

<ul><li><a href="https://www.forexlive.com/news/us-existing-home-sales-for-april-428m-versus-430m-estimate-20230518/" target="_blank" rel="follow">Prior </a>was 4.28M</li><li>Inventory of homes for sale 1.08M vs 1.04M prior</li><li>Supply at months 3.0 vs 2.9 months prior (balanced is considered 6 months)</li><li>Median sale price $396.1K vs $388.8K prior</li><li>Median sale prices -3.1% y/y</li></ul><p>The US is supply constrained because all the people on 30-year fixed mortgages don't want to sell and give them up. That's left for-sale inventories very low, despite rising interest rates. In turn, it's helped to put a floor under prices and spurred home builders to get building, especially with supply chains improving.</p><p>This report rarely affects the <a href="https://www.forexlive.com/terms/u/us-dollar/">US dollar</a>.</p>

This article was written by Adam Button at www.forexlive.com.