AI Data Insight
The latest released non-seasonally adjusted US existing home inventory for May increased to 1.55 million units, expanding steadily from the previous value of 1.47 million units, indicating that the supply of properties for sale is gradually recovering. Driven by the release of inventory and the return of first-time homebuyers, existing home sales volume exceeded market consensus and hit a year-to-date high; however, potential mortgage rate fluctuations remain a headwind that requires close monitoring in the coming months.