US Existing Home Sales Bounce Back In June (+20.7% MoM) While FHFA Home Price Index Declines -0.3% MoM In May

Weird, whacky stuff in housing news.

Let’s start with the FHFA’s home price index for May. It fell -0.3% MoM.

Existing home sales rose 20.7% MoM in June after falling -9.7% in May. Nice rebound!

Inventories of existing homes for sale remains low. Median price for existing home sales rose 3.5% MoM in June.

If existing home sales continue their recovery, sweet dreams are made of this.

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