- Existing home sales fell 4.6% in December.
- The data did not lead to a reaction from the foreign exchange market.
US existing home sales fell 4.6% in December, much worse than the expected 0.8% increase, according to data released by the National Association of Realtors on Monday.
That pushed the 12-month moving average of sales down to 6.18 million from the 6.48 million seen in November, below the 6.44 million expected.
The median price of homes sold was $358,000, up 15.8% on a year-over-year basis.
About the Existing Home Sales Variance
Existing Home Sales, published by the Association of Realtors, provides an estimated value of housing market conditions. Since the real estate market is considered a sensitive factor for the US economy, this report generates volatility in the dollar. A high reading is bullish for the dollar, while a low result is bearish.