US July existing home sales 3.95m vs 3.93m expected

• Prior was 3.93m
• Sales +1.3% vs -5.4% prior (breaks a four-month losing streak)
• Sales -2.5% y/y
• Inventory 4.0 vs 4.1 months prior
• Median prices $422,600 vs $426,900 prior
• Prices up 4.2% y/y
• Full report

Supply is up 18% year over year.

“Despite the modest gain, home sales are still sluggish,” said NAR Chief
Economist Lawrence Yun. “But consumers are definitely seeing more
choices, and affordability is improving due to lower interest rates.”

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