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US existing home sales unexpectedly fall in April

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The existing-home sales data measures sales and prices of existing single-family homes for the nation overall, and gives breakdowns for the West, Midwest, South, and Northeast regions of the country. These figures include condos and co-ops, in addition to single-family homes. U.S. Pending Home Sales Fall Unexpectedly in April. More..

U.S. home sales unexpectedly fell in April amid persistent weakness in the lower-priced segment of the market, which has experienced an acute shortage of properties. The National Association of Realtors said existing home sales fell 0.4% to a seasonally adjusted annual rate of 5.19 million units last month.

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 · Home sales begin to contract in earnest in September. Existing home sales fall by an average of 16% from August, and then fall by another 10% in November. The four lightest months of the year for existing home sales, which is November to February, account for 27% of an average year’s total home-selling volume.

 · Existing sales unexpectedly fell to the 3-year low in December, but builder confidence rose by two points in January due to the gradual decline in mortgage rates. Despite the soft pending home sales in December, with the potential rise in inventory and the change in the stance of monetary policy, NAR expected an improvement of the housing market in 2019.

February’s sales pace was revised down to 5.48 million units from the previously reported 5.51 million units. Sales fell in all four regions of the country last month. Economists polled by Reuters had.

 · Existing-home sales continue to gradually improve, thanks to lower mortgage rates. They rose 2.5% in May to a seasonally adjusted rate of 5.34 million. Existing sales are struggling because of.

Existing home sales in the U.S. unexpectedly showed a modest decrease in the month of April, according to a report released by the National Association of Realtors on Tuesday. NAR said existing home sales dipped by 0.4 percent to an annual rate of 5.19 million in April after plunging by 4.9 percent to a rate of 5.21 million in March.

Economists polled by Reuters had forecast existing home sales rising 2.7% to a rate of 5.35 million units in April. Existing home sales, which make up about 90% of U.S. home sales, dropped 4.4% from a year ago.