US: Existing Home Sales declined by 17.8% in April

Existing Home Sales in US fell less than expected in April.
Median home price for existing homes rose by 7.4% annually.

Eren Sengezer FXStreet

Existing Home Sales in the United States declined by 17.8% in April following March's decrease of 8.5%, the data published by the National Association of Realtors (NAR) showed on Thursday. This reading came in slightly better than the market expectation for a fall of 18.9%.

The further details of the publication revealed that the median home price for existing homes increased by 7.4% from April-2019 levels to $286,800.

Market reaction

This data was largely ignored by the market participants. As of writing, the S&P 500 Real Estate Index was up 0.08% on the day at 199.31 points.

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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