Investing.com - U.S. existing home sales eased up slightly in January, while the previous month’s figure was revised down, industry data showed on Thursday.
In a report, the National Association of Realtors said that existing home sales eased up 0.4% to a seasonally adjusted 4.92 million units in January from December’s revised total of 4.90 million.
December existing home sales were initially reported at 4.94 million units.
Analysts had expected U.S. existing home sales to hold steady at 4.90 million units in January.
Lawrence Yun, NAR chief economist, said tight inventory is a major factor in the market. “Buyer traffic is continuing to pick up, while seller traffic is holding steady,” he said.
Following the release of the data, the U.S. dollar held on to gains against the euro, with EUR/USD shedding 0.55% to trade at 1.3210.
Meanwhile, U.S. equity markets were lower after the open. The Dow Jones Industrial Average fell 0.5%, the S&P 500 index declined 0.75%, while the Nasdaq Composite index lost 0.95%.
In a report, the National Association of Realtors said that existing home sales eased up 0.4% to a seasonally adjusted 4.92 million units in January from December’s revised total of 4.90 million.
December existing home sales were initially reported at 4.94 million units.
Analysts had expected U.S. existing home sales to hold steady at 4.90 million units in January.
Lawrence Yun, NAR chief economist, said tight inventory is a major factor in the market. “Buyer traffic is continuing to pick up, while seller traffic is holding steady,” he said.
Following the release of the data, the U.S. dollar held on to gains against the euro, with EUR/USD shedding 0.55% to trade at 1.3210.
Meanwhile, U.S. equity markets were lower after the open. The Dow Jones Industrial Average fell 0.5%, the S&P 500 index declined 0.75%, while the Nasdaq Composite index lost 0.95%.