Existing Home Sales Report Releases Thursday at 10:00 a.m. EST.
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Announcement:
Existing Home Sales report releases Thursday, June 26, at 10:00 a.m. EST.
Description:
Existing Homes Sales measure housing demand via month over month and annual unit sales numbers. What’s more, Existing Home sales also give some insight to future trends via listings and supply, while also giving guidance to support sectors, like furnishings and hardware stores.
Trader Take:
Existing Home Sales for June could actually see a slight uptick, with the consensus view looking for a 2.3% increase in May, over the previous month. The figure would give bring the annual rate of homes sold to 5.0 million units, which is fairly dismal compared to previous years.
Within the report, markets will be looking for improvements in new listings (meaning less), coupled with a decrease in supply to show signs of a housing bottom. New home sales numbers on Wednesday could give some insight on what to expect on Thursday.
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