U.S. July NAR revised existing home sales (annualized monthly rate) fell short of expectations: -1.7% vs -0.7%

U.S. July NAR existing home sales fell 1.7% annualized, missing the -0.7% forecast; the narrowing decline supports monetary easing expectations.

The revised figure for existing home sales (annualized monthly rate) in the U.S. for July, as released by NAR, was -1.7%, lower than the expected -0.7% and down from the previous value of -2.4%. The weaker-than-expected data indicates that the slowdown in the housing market is easing, providing some support for expectations of monetary easing.