Free Trial
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
US DATA
- Existing home sales were weaker than expected in June at 3.89m (cons 3.99m) after an unrevised 4.11m in May.
- It sees sales fall -5.4% M/M and a fourth consecutive monthly decline worth a cumulative -11% which has more than offset the 9.5% jump back in Feb.
- The trend better reflects the continued weakness seen in pending home sales which hit a new series low in May for data going back to 2001.
- Latest existing home sale declines were relatively broad-based, ranging from -2% (northeast) to -8% (midwest) and with the largest region, the south, falling -6%.
- A further uplift in the outright level of inventories meant that the months of supply increased strongly to 4.1 from 3.7 in May.
- This non-seasonally adjusted figure compares with 3.1 in Jun’23 and 2.9 in Jun ’22, and is essentially back to pre-pandemic averages (4.2 average in 2017-19 June readings). That compares with last month’s 3.7 vs a 2017-19 average also of 4.2.
- Impressively considering the further increase in relative supply, median price growth slowed but only from 5.2% to 4.1% Y/Y.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok