US Existing Home Sales decline in January

Existing Home Sales in the US continued to decline in January. Meanwhile, the US Dollar Index stays in positive territory above 104.00.

Existing Home Sales in the US declined by 0.7% in January to an adjusted annual rate of 4 million, the National Association of Realtors (NAR) reported on Tuesday. This reading came in below the market expectation of 4.1 million.

“The median existing-home sales price increased 1.3% from one year ago to $359,000,” the NAR further noted in its publication.

Commenting on the data, “home sales are bottoming out,” said NAR Chief Economist Lawrence Yun. “Prices vary depending on a market’s affordability, with lower-priced regions witnessing modest growth and more expensive regions experiencing declines.”

This data does not have a noticeable impact on the US dollar’s performance against its major rivals. As of writing, the US Dollar Index was up 0.22% on the day at 104.10.