May US existing home sales
- Prior was 5.57m (revised to 5.56M)
- Sales +1.1% vs -0.4% expected
- Prior -2.3% (revised to -2.5%)
- Inventory of homes for sale 1.96M, or 4.2M
- Median home prices +5.8% to record $252,800
The rise in prices is the real story here. The US is heading back towards big housing price gains. I believe they can easily rise 25% from here in the next 3 years.
