Analysts at Nomura note that US existing home sales fell 0.4% m-o-m in May to 5430k saar, below expectations (Nomura: +1.5% to 5540k, Consensus: +1.1% to 5520k), after falling 2.7% m-o-m in April. Key Quotes “Single-family home sales remained weak, down 0.6% m-o-m in May after falling 3.0% in April. Purchases of single-family homes dropped in all regions except for the Northeast, suggesting that the slowdown in May was broad-based.” “The scarcity of inventories will likely remain as near-term supply constraints, especially for the entry-level segment. The total stock of homes for sale fell 6.1% y-o-y and months’ supply indicator was at 4.1 months in May, which is low compared to the historical standard.” “While the strong labor market should continue to boost consumer demand, rising home prices driven by scarce supply may somewhat dampen demand.” “GDP tracking update: May existing home sales were weaker than expected and April sales were revised down. This suggests less brokers’ commissions in Q2, a component of residential investment. However, after rounding, our Q2 real GDP tracking estimate remains unchanged at 4.1% q-o-q saar.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next NZ GDP: Cooling gradually – ANZ FX Street 3 years Analysts at Nomura note that US existing home sales fell 0.4% m-o-m in May to 5430k saar, below expectations (Nomura: +1.5% to 5540k, Consensus: +1.1% to 5520k), after falling 2.7% m-o-m in April. Key Quotes "Single-family home sales remained weak, down 0.6% m-o-m in May after falling 3.0% in April. Purchases of single-family homes dropped in all regions except for the Northeast, suggesting that the slowdown in May was broad-based." "The scarcity of inventories will likely remain as near-term supply constraints, especially for the entry-level segment. The total stock of homes for sale fell 6.1% y-o-y and months' supply indicator… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
