US: Existing Home Sales surge by 20.7% in June vs. 24.5% expected

• Existing Home Sales in US rose less than expected in June.
• US Dollar Index struggles to recover above 96.00. 

Existing Home Sales in the United States increased by 20.7% in June, the data published by the National Association of Realtors (NAR) showed on Wednesday.

This reading followed April's decline of 9.7% and came in slightly worse than the market expectation of 24.5%.

Additional takeaways from the press release

"Sales overall, however, dipped year-over-year, down 11.3% from a year ago (5.32 million in June 2019)."

"The sales recovery is strong, as buyers were eager to purchase homes and properties that they had been eyeing during the shutdown."

"The median existing-home price for all housing types in June was $295,300, up 3.5% from June 2019 ($285,400), as prices rose in every region."

Market reaction

The US Dollar Index paid little to no mind to this report and was last seen losing 0.25% on the day at 94.93.