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Wednesday, June 21, 2017
May US existing home sales 5.62M vs 5.55M expected
Prior was 5.57m (revised to 5.56M)
Sales +1.1% vs -0.4% expected
Prior -2.3% (revised to -2.5%)
Inventory of homes for sale 1.96M, or 4.2M
Median home prices +5.8% to record $252,800
The rise in prices is the real story here. The US is heading back towards big housing price gains. I believe they can easily rise 25% from here in the next 3 years.
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