- Existing home sales in the US continued to decline in July.
- The Dollar Index remains in positive territory above 103.50.
US existing home sales fell 2.2% in July to an adjusted annual rate of 4.07 million, the National Association of Realtors (NAR) reported on Tuesday. This reading followed the 3.3% decline recorded in June.
“The median sales price of existing homes rose 1.9% from a year ago to $406,700. It was the fourth time the monthly median sales price eclipsed $400,000, joining June 2023 ($410,000 ), June 2022 ($413,800) and May 2022 ($408,600),” the NAR noted in its post. “Unsold existing home inventory increased 3.7% from the prior month to 1.11 million at the end of July, or the equivalent of 3.3 months’ supply at current monthly sales rates.”
Market reaction
The Dollar remains strong following this report and the Dollar Index was last up 0.3% on the day at 103.60.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
