US Existing Home Sales Rise Slightly to 4.02 Million Units
Sales rose 0.2% in April to a 4.02 million unit rate. Elevated mortgage rates and inflation keep affordability low while inventory remains below normal.
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Xurve View
United States existing home sales rose 0.2% in April to a 4.02 million unit annual rate, missing economist forecasts of 4.05 million. Elevated mortgage rates and high inflation continue to price out prospective buyers as residential spending contracted for five straight quarters. Stagnant sales volume and record-high April prices suggest a K-shaped recovery favoring cash-rich buyers over first-time homeowners.
