US May existing home sales 4.30M vs 4.25M expected

• Prior was 4.28M
• Inventory of homes for sale 1.08M vs 1.04M prior
• Supply at months 3.0 vs 2.9 months prior (balanced is considered 6 months)
• Median sale price $396.1K vs $388.8K prior
• Median sale prices -3.1% y/y

The US is supply constrained because all the people on 30-year fixed mortgages don't want to sell and give them up. That's left for-sale inventories very low, despite rising interest rates. In turn, it's helped to put a floor under prices and spurred home builders to get building, especially with supply chains improving.

This report rarely affects the US dollar US Dollar The US dollar, (symbol $, code USD) is the fiat currency of the United States of America (USD) and the most widely traded currency globally. It was introduced into the US in the late 18th Century, with paper notes not being distributed until the following century. The US dollar, also informally known as the greenback, is the world’s most foremost reserve currency, due in large part to the importance of the US economy on the world stage. Once backed by gold (in the 1900’s), the USD is now a purel The US dollar, (symbol $, code USD) is the fiat currency of the United States of America (USD) and the most widely traded currency globally. It was introduced into the US in the late 18th Century, with paper notes not being distributed until the following century. The US dollar, also informally known as the greenback, is the world’s most foremost reserve currency, due in large part to the importance of the US economy on the world stage. Once backed by gold (in the 1900’s), the USD is now a purel Read this Term.