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US Existing Home Sales Unexpectedly Jumped In May, Inventories Surge
US Existing Home Sales Unexpectedly Jumped In May, Inventories Surge
With the Spring selling season in tatters, existing home sales were expected to rebound in May very modestly (+1.1% MoM) off recent record lows, but instead they outperformed, rising at 3.2% MoM (and April's 0.2% MoM rise was revised higher to a +0.7% MoM rise). That lifted existing home sales up 3.22% YoY - the strongest since September 2025...
Source: Bloomberg
That beat lifted existing home sales SAAR to its highest level of the year (but not exactly signaling a trend)...
Source: Bloomberg
“More Americans...
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