Sales of previously owned houses in the US dropped 1.7 percent from the previous month to a seasonally adjusted annual rate of 5.27 million in June 2019, compared to May's 2.9 percent increase and market expectations of a 0.2 percent fall. Sales of single family homes declined 1.5 percent to 4.69 million, after a 2.8 percent advance in May; while sales of condos slumped 3.3 percent to 0.58 million, reversing a 3.4 percent growth in the prior month. The median house price went up to an all-time high of $285,700 in June from $278,200 in May and $277,700 a year earlier. The months' worth of supply rose to 4.4 from 4.3. Year-on-year, existing home sales dropped 2.2 percent, the 16th straight annual decline in home sales. Existing Home Sales in the United States averaged 3960.61 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 5250.00 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 5200.00 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.