Sales of previously owned houses in the US rose 2.5 percent from the previous month to a seasonally adjusted annual rate of 5.34 million in May of 2019. It follows an upwardly revised of 5.21 million and compares to market expectations of 5.25 million. Sales of single family homes jumped 2.6 percent to 4.75 million, rebounding from a 0.9 percent decline in April; while sales of condos increased 1.7 percent to 0.59 million, after a 7.4 percent surge in the prior month. The median house price increased to $277,700 from $266,900 in April and $265,100 a year earlier. The months' worth of supply went up to 4.3 from 4.2 in April. Year-on-year, existing home sales dropped 1.1 percent. Existing Home Sales in the United States averaged 3958.46 Thousand from 1968 until 2019, reaching an all time high of 7250 Thousand in September of 2005 and a record low of 1370 Thousand in March of 1970.
Existing Home Sales in the United States is expected to be 5350.00 Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Existing Home Sales in the United States to stand at 4900.00 in 12 months time. In the long-term, the United States Existing Home Sales is projected to trend around 4700.00 Thousand in 2020, according to our econometric models.