US existing home sales for April 2019
- US existing home sales come in weaker than expected at 5.19M vs 5.35M estimate. That was also lower than the 5.21M reading last month
- The MoM fell -0.4% versus +2.7% estimate
- inventory of homes for sale 1.83M which is 4.2 months supply at the current sales pace> That is up from 3.8 months last month and 3.6 months from February. That is the highest level since October 2018 (4.3 months).
- median home price $267,300, +3.6% from April 2018. Up from $259,700 last month
- average price $305,200, +2.5% vs April 2018. Up from $297,500 last month
- 3% of US April existing home sales were distressed versus the same 3% in March and 4% in April 2018
- first-time buyers 32% versus 33% last month
- All cash 20% versus 21% last month
