US: Existing Home Sales decline by 5.9% to 4.81 million in July

Existing Home Sales in US fell for the sixth straight month in July.
US Dollar Index holds above 107.00 despite the disappointing data.

Eren Sengezer FXStreet

Existing Home Sales in the US declined for the sixth straight month in July to a seasonally adjusted annual rate of 4.18 million, the National Association of Realtors reported on Thursday. Sales were down 5.9% and 20.2% on a monthly and yearly basis, respectively.

Further details of the report revealed that the median price for Existing Home Sales rose by 10.8% from one year ago to $403,800, down from $10,000 from last month's record high of $413,800.

Market reaction

With the initial reaction, the US Dollar Index edged slightly lower from the multi-week high it touched at 107.14 earlier in the day.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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