Existing Home Sales were slightly stronger than expected in May, according to the National Association of Realtors. Here are the preliminary newswires with a full story to follow shortly:
- U.S. MAY EXISTING HOME SALES 5.62 MLN UNIT RATE (CONSENSUS 5.55 MLN), VS APRIL 5.56 MLN (PREV 5.57 MLN)-NAR
- U.S. MAY EXISTING HOME SALES +1.1 PCT VS APRIL -2.5 PCT (PREV -2.3 PCT)-NAR
- U.S. MAY INVENTORY OF HOMES FOR SALE 1.96 MLN UNITS, 4.2 MONTHS' WORTH
- MAY NATIONAL MEDIAN HOME PRICE FOR EXISTING HOMES RECORD HIGH $252,800, +5.8 PCT FROM MAY 2016
- NAR SAYS 5 PCT OF U.S. MAY EXISTING HOME SALES WERE DISTRESSED VERSUS 5 PCT IN APRIL, 6 PCT IN MAY 2016