US existing home sales data for July 2017
- Prior was 5.52m (revised to 5.51m)
- Estimates ranged from 5.40m to 5.66m
- Sales -1.3% vs +0.9% expected
That's an 11-month low. Combined with yesterday's new home sales figure, we may be seeing home buyers taking a step back because of rising prices. Inventories across the country are lean and buyers are staying patient.