Analysts at Nomura note that US existing home sales fell 0.6% m-o-m in June to an annualized pace of 5.38mn, below expectations (Nomura: +0.1% to 5.44mn, Consensus: +0.2% to 5.45mn), marking the third consecutive monthly decline. Key Quotes “As has been the case for some time now, inventory shortages continue to plague the market for existing homes, worsening affordability and dampening sales.” “On the upside, housing inventory increased on a y-oy basis for the first time since mid-2015, with supply at the current sales pace registering 4.3 months.” “Further increases in inventory would be a welcome sign for the housing market, as demand will likely remain steady in light of a low unemployment rate and firm income growth.” “GDP tracking update: Yesterday’s existing home sales report for June included negative revisions to sales activity in May and a somewhat lower-than-expected print for June, implying slightly less residential investment during Q2. However, after rounding, our Q2 GDP tracking estimate is unchanged at 4.6%.” 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 USD/JPY Review: Defends uptrend from March and 23.6 percent Fib retracement FX Street 5 years Analysts at Nomura note that US existing home sales fell 0.6% m-o-m in June to an annualized pace of 5.38mn, below expectations (Nomura: +0.1% to 5.44mn, Consensus: +0.2% to 5.45mn), marking the third consecutive monthly decline. Key Quotes "As has been the case for some time now, inventory shortages continue to plague the market for existing homes, worsening affordability and dampening sales." "On the upside, housing inventory increased on a y-oy basis for the first time since mid-2015, with supply at the current sales pace registering 4.3 months." "Further increases in inventory would be a welcome sign for the housing… Regulated 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.
