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U.S. Existing Home Sales Stuck In The Basement
U.S. existing home sales unexpectedly fell 2.4% to 4.09 mln a.r. in June, underscoring the continued sensitivity of housing demand amid affordability challenges. Sales of single-family homes wilted 2.4% while condos dropped 2.7%. Regionally, activity was mixed, with the Northeast posting a 2.1% increase, while sales declined in the Midwest (-3.0%), South (-3.6%), and West (-1.3%) Inventory conditions remain relatively tight. Total listings climbed 1.3% y/y, the slowest pace since November 2023. At the current sales pace, it would take 4.6 months to absorb available supply, little changed from last month (4.5 months) ... (full story)
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- Jul 9, 12:22pm | 3 hr ago Posted byFundamental Analysis596
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