FOREX TradingCharts.com

Financial News: U.S. Existing Home Sales Unexpectedly Drop 0.4% In

U.S. Existing Home Sales Unexpectedly Drop 0.4% In May

06/20/2018 - 10:21:00 (RTTNews)

(RTTNews) - Existing home sales in the U.S. unexpectedly decreased in the month of May, according to a report released by the National Association of Realtors on Wednesday.

NAR said existing home sales fell by 0.4 percent to an annual rate of 5.43 million in May after plunging by 2.7 percent to a downwardly revised 5.45 million in April.

The drop surprised economists, who had expected existing home sales to climb to an annual rate of 5.52 million from the 5.46 million originally reported for the previous month.

With the unexpected decrease, existing home sales in May were down by 3.0 compared to the same month a year ago and have fallen year-over-year for three straight months.

"Closings were down in a majority of the country last month and declined on an annual basis in each major region," said NAR chief economist Lawrence Yun.

He added, "Incredibly low supply continues to be the primary impediment to more sales, but there's no question the combination of higher prices and mortgage rates are pinching the budgets of prospective buyers, and ultimately keeping some from reaching the market."

The report said the median existing home price was at an all-time high of $264,800 in May, up 2.7 percent from $257,900 in April and up 4.9 percent from $252,500 in the same month a year ago.

NAR said total housing inventory climbed 2.8 percent to 1.85 million existing homes available for sale at the end of May but is still 6.1 percent lower year-over-year.

The unsold inventory represents 4.1 months of supply at the current sales pace, up from 4.0 months in April but down from 4.2 months in May of 2017.

The drop in existing home sales came as single-family home sales fell by 0.6 percent to an annual rate of 4.81 million, more than offsetting a 1.6 percent jump in existing condominium and co-op sales to a rate of 620,000.

Next Monday, the Commerce Department is scheduled to release a separate report on new home sales in the month of May.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2018 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


BRAZIL: DI Rates Trade Lower Amid Signs Of Centrist Support To Alckmin (01 hr(s), 35 min(s), 09 sec(s) ago)
(RTTNews) - The one-day interbank deposit futures rates (DI rates) in Brazil traded lower Friday a ...Full Story»

BRAZIL: Government Cuts 2018 GDP Growth Projection To 1.6%, From 2.5% (01 hr(s), 34 min(s), 09 sec(s) ago)
(RTTNews) - The Brazilian government revised the expectation of growth of the Gross Domestic Produ ...Full Story»

BRAZIL: 661 Jobs Were Closed In June (01 hr(s), 33 min(s), 09 sec(s) ago)
(RTTNews) - Brazil recorded a net loss of 661 jobs in June, resulting in 1,167,531 admissions and ...Full Story»

TIM BRAZIL: Net Profit Rises 53% In The 2Q18, To R$ 335 Million (01 hr(s), 42 min(s), 09 sec(s) ago)
(RTTNews) - TIM Brazil's net profit grew 53% in the second quarter from a year before, to R$ 3 ...Full Story»

BRAZIL: IPCA-15 Rises 4.53% In 12 Months To July (estimates +4.61%) (01 hr(s), 49 min(s), 09 sec(s) ago)
(RTTNews) - The preliminary official consumer price inflation index in Brazil (IPCA-15) lost stren ...Full Story»

EMBRAER: Company Delivers 48 Aircraft In 2Q18, 11 Less Than In 2Q17 (01 hr(s), 52 min(s), 09 sec(s) ago)
(RTTNews) - Brazil's Embraer delivered 48 aircraft in the second quarter of 2017 (28 commercia ...Full Story»

A (01 hr(s), 54 min(s), 09 sec(s) ago)
(RTTNews) - a For comments and feedback: contact editorial@rttnews. ...Full Story»

TIM: Net Income Grows 53% In 2Q18, To R$ 335 Million (01 hr(s), 59 min(s), 09 sec(s) ago)
(RTTNews) - Brazil's TIM Participalles' net income increased 53.2% in the second quarter c ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

BRAZIL: 661 Jobs Were Closed In June

07/21/2018 - 09:00 AM (RTTNews)
(RTTNews) - Brazil recorded a net loss of 661 jobs in June, resulting in 1,167,531 admissions and ...Full Story>>

BRAZIL: Government Cuts 2018 GDP Growth Projection To 1.6%, From 2.5%

07/21/2018 - 08:59 AM (RTTNews)
(RTTNews) - The Brazilian government revised the expectation of growth of the Gross Domestic Produ ...Full Story>>

BRAZIL: DI Rates Trade Lower Amid Signs Of Centrist Support To Alckmin

07/21/2018 - 08:58 AM (RTTNews)
(RTTNews) - The one-day interbank deposit futures rates (DI rates) in Brazil traded lower Friday a ...Full Story>>

TIM BRAZIL: Net Profit Rises 53% In The 2Q18, To R$ 335 Million

07/21/2018 - 08:51 AM (RTTNews)
(RTTNews) - TIM Brazil's net profit grew 53% in the second quarter from a year before, to R$ 3 ...Full Story>>

BRAZIL: IPCA-15 Rises 4.53% In 12 Months To July (estimates +4.61%)

07/21/2018 - 08:44 AM (RTTNews)
(RTTNews) - The preliminary official consumer price inflation index in Brazil (IPCA-15) lost stren ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.