- US existing home sales fell more than expected in May.
- US Dollar Index remains above 104.00 after the data.
Existing home sales in the United States they decreased 3.4% to a seasonally adjusted annual rate of 5.41 million in May, according to data released by the National Association of Realtors (NAR) on Tuesday. This reading was worse than the market expectation of a 0.2% decline.
“At $407,600, the median sales price of existing homes exceeded $400,000 for the first time and represents an increase of 14.8% from a year ago,” the monthly publication further reads. “Existing unsold home inventory rose to 1.16 million at the end of May, or the equivalent of 2.6 months at the current pace of monthly sales.”
market reaction
The US Dollar Index largely ignored this data and was last seen losing 0.15% on the day at 104.25.
Source: Fx Street
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