US June existing home sales 5.38m vs 5.45m expected

US June existing home sales data

• Prior was 5.43m (revised to 5.41m)

• Sales -0.6% vs +0.2% expected

• Inventory at 4.3 months

• Median price $276,900, up 5.2% y/y

The latest housing numbers have been all over the place. In his testimony last week, the Fed's Powell was lamenting the lack of inventory and the difficulty of building.