Existing Home Sales Set Another Record

- Existing Home Sales for June rose to 7.33M versus estimates of 7.15M and 7.14M in May.

BOTTOM LINE: US sales of previously owned homes rose an unexpected 2.7% to an all-time record in June as a strong US economy and low interest rates boosted prices to another high. Sales increased 5.5% in the West, 3.4% in the Northeast, 1.9% in the Midwest and 1.1% in the South. The supply of homes available for sale held at 4.3 months’.