Sales of existing homes declined 8.5% in March, more than forecast, FXStreet’s analyst Joseph Trevisani informs.
Key quotes
“Sales in the largest sector of the housing market fell more than expected in March sliding 8.5% to 5.27 million annualized units.”
“If the decline in home sales persists and accelerates, it will bode ill for consumption in the general economy.”
“In the current high risk-averse market environment, economic trouble has supported the safety trade to the US dollar.”
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