US November existing home sales 4.15m vs 4.07m expected- Prior was 3.96m
- Sales +4.8% vs +2.9% prior (to 4.15m)
- Sales +6.1% vs -6.7% y/y prior
- Inventory 3.8 vs 4.2 months prior
- Median prices $406,100 vs $387,800 prior
- Prices +4.7% vs +3.9% y/y prior
The data shows strong momentum in the housing market, with sales reaching their highest pace since March 2024. The problem is that US 30-year mortgage rates are flirting with 7% again and that's not a good sign for the housing market going forward.
This article was written by Adam Button at www.forexlive.com.
Source: US November existing home sales 4.15m vs 4.07m expected (https://www.forexlive.com/news/us-november-existing-home-sales-415m-vs-407m-expected-20241219/)
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