Existing Home sales dropped 2.2% during September. Analysts at Wells Fargo point out that despite the monthly drop, lower mortgage rates are providing a lift to the housing market, and resales are up 3.9% over the year. They added home prices continue to move higher. Key Quotes: “The monthly decline was owed to a 2.6% fall in single-family sales, while condo sales rose 1.7%. Sales fell in every region, but the Midwest saw the largest drop (-3.1%), perhaps a byproduct of the ongoing UAW-GM strike which began in September.” “While buying conditions have improved, the continued lack of inventory on the market is likely limiting sales. Inventories fell 2.7% year-over-year to 1.83 million, the 4th consecutive decline. “Solid demand and a shortfall of homes for sale is putting upward pressure on prices. The median single-family home price rose 6.1% to $275K, the strongest annual gain since early 2017.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next WTI bulls capped ahead of $55 handle as market weighs probability of OPEC+ cuts FX Street 3 years Existing Home sales dropped 2.2% during September. Analysts at Wells Fargo point out that despite the monthly drop, lower mortgage rates are providing a lift to the housing market, and resales are up 3.9% over the year. They added home prices continue to move higher. Key Quotes: "The monthly decline was owed to a 2.6% fall in single-family sales, while condo sales rose 1.7%. Sales fell in every region, but the Midwest saw the largest drop (-3.1%), perhaps a byproduct of the ongoing UAW-GM strike which began in September." "While buying conditions have improved, the continued lack of… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
