USA Existing Home Sales and Q2 GDP Tracking

US existing home sales rose slightly by 0.2% in April to 4.02 million units, meeting consensus. Consequently, Goldman Sachs trimmed its Q2 GDP tracking estimate to 1.6%.

Key Takeaways

• 1.April existing home sales rose 0.2% to 4.02mn units, which was roughly in line with market expectations.
• 2.Goldman Sachs lowered its Q2 GDP tracking estimate to 1.6% (from 1.7%) due to soft single-family home sales.
• 3.The inventory of homes for sale remained at its highest level since April 2016, with a 4.5-month supply.

Table of Contents

• BOTTOM LINE
• KEY NUMBERS
• MAIN POINTS
• Disclosure Appendix

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