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May Existing Home Sales Above-Expected......>

US DATA
US DATA: May Existing Home Sales Above-Expected 5.34m SAAR
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- May home sales 5.34m SAAR vs 5.27m BBG and MNI expect. April rev up to 5.21.
- Q2 sales average 5.27m, up from 5.21m Q1 average, 
- Sales were +2.6% for single-family homes and +1.7% for condos. 
- Sales up in up in all four regions. The supply of homes +2.7% y/y to 1.92m. 
- The median sales price rose in May to $277,700, +4.8% from a year ago.
- NAR's Yun noted lower mortgage rates as a key factor in the May sales gain.
- Days on market: 26 days, unch vs year ago; "very fast," Yun said

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