Homepage / Currency / US existing home sales stumble as prices hit record high
Jogue Por Dinheiro Actual Em Cassino Onlin Bonver Casino Cz Hrací Automaty S Bonusem Zdarm Magazyn Żużel Speedway W Polsce I Na Świeci Zakłady Sportowe Online Autógrafo Bukmacherska 1xbe “Pin-up O Melhor Cassino Do Brasil Web Site Oficial ᐈ Jogar Caça-níquei Zakłady Sportowe Online Obstawiaj U Bukmachera Gg Be What Industries Use Virtual Data Room? Advantages of a Data Room What Does a Board Room Provider Do? Data Room Analysis for Venture Capital Funding The Importance of Board Reporting Software Safe Uploading and Downloading Business Files How to Select the Best Board Management Software How to Organize the Work of a Company “gerçek Parayla En Iyi Slot Makineleri Ve Spor Bahisler Which is the Best Podcast For Stock Market Beginners? Virtual Data Room Facts How to Protect Confidential Documents for Boards Advantages of Online Meetings Business Issues to Consider When Choosing a Data Room Provider What Is a Data Room? Virtual Board Room Software Due Diligence Risk Factors How to Choose a Reliable Tool for Data Exchange test Users535352253 Board Software and VDR Programs Business Operations Management Software Keep Data Safe and Protect Your Business Data How to Conduct a Board Self-Assessment Uncomplicated Ways to Simplify Daily Business Transactions Due Diligence Blog Digital Data Rooms for the Netherlands The New Era of Business Software and Reporting What Types of Businesses Use VDR Software? Ma Analysis Mistakes The Corporate Governance Role Board Room Apps Secure Board Management With Secure Board Portals What Happens at Board of Directors Meetings? Board Room Software Review How to Prepare Board Rooms for Effective Board Meetings Board Room Software Boosts Performance and Communication Selecting a Secure Data Room Review Local Data Room Service Review How to Find the Best Virtual Data Room Review What to Look for in a Data Room uk Provider Document Storage and Distribution Software Everything About VDRs Corporate Software Advantages How to Choose a Virtual Data Room Provider The Most Secure Way to Transfer Files How to Manage Online Board Meetings Benefits Virtual Data Room Solutions – Must-Haves for M&A and Due Diligence Best Data Room Functions for the Different Types of Industries How to Choose a VDR Software Provider How to Choose an Online Board Portal The Benefits of a Boardroom Review Board Room Online Solutions – How to Get the Most Out of Your Board Meetings Why You Need a Board Room How a Board Room Blog Can Transform Your Business Choosing the Best Board Room Format How to Have Productive and Engaging Board Directors Meetings Choosing the Right Virtual Data Room How to Keep Safe Documents Storage Teaching Kids About Online Safety Avoid Costly Mistakes With Free Data Room Services Corporate Virtual Data Unlimited Data Room Software For Due Diligence Leading Business Software Features to Look For Secure Online Data Rooms Solutions How to Keep Share, Edit and Delete Your Data Safe Virtual Data Room Software Secrets for M&A Due Diligence What to Look For in Boardroom Providers Board of Directors Blog Posts How to Deliver Value at Your Board Meetings How to Have Effective Board Meetings Responsibilities of Board Members Deal Management – How to Effectively Manage a Complex Sales Pipeline Data Rooms For Mergers And Acquisitions How to Have a Successful Board Room Meeting Choosing a Board Room Service Provider What is a Board Room Service? Board Room Software Review – Choosing the Best Portal for Mother Board Meetings Why a Board Room Providers Review Is Important What Is a Board Room Review? Venture Software for VC Firms What Is an Assessment Report? The Importance of a Tech Audit Popular Business Applications What to Look For in a Data Room App What Are Business Applications? How to Choose a Virtual Data Room How to Plan a Data Room Review Coronavirus Guide What is a Virtual Data Room? What Is Data Science? What Is an Operating System? Turbotax Small Business Review How Online VDRs Are Used in M&A Deals

Currency

US existing home sales stumble as prices hit record high

U.S. home resales volumes fell more than expected in June as a dearth of properties pushed
house prices to a record high.

The National Association of Realtors said on Monday existing home sales dropped 1.8 percent to a seasonally adjusted annual rate of 5.52 million units last month.

May’s sales pace was unrevised at 5.62 million units. Economists polled by Reuters had forecast sales falling 1 percent to a 5.58 million-unit rate.

Sales were up 0.7 percent from June 2016.

An acute shortage of properties has hampered monthly sales. The shortage of properties has led to bidding wars, which have culminated in house price increases outpacing wage gains.

Last month, the number of homes on the market slipped 0.5 percent to 1.96 million units. Supply was down 7.1 percent from a year ago. Housing inventory has dropped for 25 straight months
on a year-on-year basis.

As a result, the median house price jumped 6.5 percent from a year ago to an all-time high of $263,800 in June. It was the 64th straight month of year-on-year price increases.

The PHLX index of housing stocks fell, underperforming a broadly weaker U.S. stock market. Prices for U.S. Treasuries bonds slipped while the U.S. dollar rose slightly against a basket of currencies after the data was published.

Homebuilders are struggling to plug the inventory gap amid rising costs of lumber. Homebuilding is also being constrained by shortages of labor and land.

A report last week showed housing starts rebounding 8.3 percent to a 1.22 million-unit pace in June, but still below their historic average of 1.5 million units, a rate realtors say would eliminate the housing shortage.

The two reports suggest that housing subtracted from gross domestic product in the second quarter after contributing almost half a percentage point to the economy’s annualized 1.4 percent growth pace in the first three months of the year.

Last month, sales fell in the Northeast, West and South regions, but rose in the Midwest. At June’s sales pace, it would take 4.3 months to clear the stock of houses on the market, up
from 4.2 months in May. A six-month supply is viewed as a healthy balance between supply and demand.

Houses typically stayed on the market for 28 days last month, down from 34 days a year ago. Houses spent fewer days on the market in Seattle, Salt Lake City, San Jose, San Francisco
and Denver.

Demand for housing is being driven by a tight labor market, marked by a 4.4 percent unemployment rate, which is boosting employment opportunities for young Americans. But the tight labor market has not spurred faster wage growth.

Annual wage growth has struggled to break above 2.5 percent, sidelining first-time home buyers, whose share of home sales has barely shifted. They accounted for 32 percent of transactions last month, well below the 40 percent share that economists and realtors say is needed for a robust housing market.

Source: cnbc economy
US existing home sales stumble as prices hit record high

Comments are closed.