FHFA house price index for May 2020
- FHFA house price index for May fell -0.3% verse +0.3% estimate.
- Prior month was revised to +0.1% from 0.2% previously reported
- Pacific fell -0.8% vs. -0.1% in April
- Mountain fell -0.3% vs. -0.1% last month
- West North Central unchanged vs. +0.6%
- West South Central -0.2% vs. +0.7%
- East North Central -0.3% vs. +0.6%
- East South Central -0.4% vs. +0.5%
- New England -1% vs. -0.5%
- mid Atlantic unchanged vs. +0.1%
- South Atlantic +0.1% vs. -0.5%
This as data is old. The existing home sales for June will be released at the 10 AM hour/1400 GMT. It is more timely data for the housing market.
Existing home sales are expected to rise to 4.75M from 3.91M last month. The estimates are wide however with the low estimate at 3.7M and the high 5.4M.
The level last month was the lowest sales pace since October 2010. A rebound to 4.75M would still be below the 2019 low of 4.98M pace.
