
Macro
US July existing home sales 4.06m vs 4.05m expected
US July existing home sales 4.06m vs 4.05m expected. Prior was 4.09m (revised to 4.13m) Sales -1.7% vs -2.4% prior (revised to -1.4%) Home prices +2.0% y/y Median price $434,100 Inventory at 4.6 months vs 4.6 months prior The housing market
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Executive summary
US July existing home sales 4.06m vs 4.05m expected. Prior was 4.09m (revised to 4.13m) Sales -1.7% vs -2.4% prior (revised to -1.4%) Home prices +2.0% y/y Median price $434,100 Inventory at 4.6 months vs 4.6 months prior The housing market
US July existing home sales 4.06m vs 4.05m expected
Lead
US July existing home sales 4.06m vs 4.05m expected. Prior was 4.09m (revised to 4.13m) Sales -1.7% vs -2.4% prior (revised to -1.4%) Home prices +2.0% y/y Median price $434,100 Inventory at 4.6 months vs 4.6 months prior The housing market
Context
Prior was 4.09m (revised to 4.13m) Sales -1.7% vs -2.4% prior (revised to -1.4%) Home prices +2.0% y/y Median price $434,100 Inventory at 4.6 months vs 4.6 months prior The housing market is in a steady state that isn't helped by high mortgage rates due to rising Treasury yields. There is some steady growth in that chart but when you discount it against CPI, there is a slight-but-steady improvement in affordability. The key question next is what will happen to borrowing rates from here. There is also -- in some sense -- a ticking time bomb in the US housing market as construction hasn't kept p…
Conclusion
Awaiting TradingBase editorial rewrite. This draft retains source lead only — not investment advice.
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NIC · Impact scores
Global: 0 · Market: 0 · Urgency: 0 · Confidence: 0 · Neutral
Trading insight
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