Data released today showed a rebound in sales of existing home sales in February. Analysts at Wells Fargo point out sales benefited from better weather early this year and lower mortgage rates. Key Quotes: “After declining for much of last year, existing home sales were poised for rebound. Pending home sales, which reflect purchase contracts, had jumped 4.6% in January, which meant that sales, which reflect closings, would likely rise in February.” “Seasonal adjustment likely exaggerated the extent of the improvement. The 5.51 million-unit pace is 1.8% below the year ago pace, which was also the cyclical peak. Benefitted “Existing home inventories continue to trend higher and are 3.2% above their year-ago level. Homes are remaining on the market longer than a year ago, which has moderated price appreciation.” 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 S&P500 Technical Analysis: US stocks dip to 2,805.00 level FX Street 4 years Data released today showed a rebound in sales of existing home sales in February. Analysts at Wells Fargo point out sales benefited from better weather early this year and lower mortgage rates. Key Quotes: "After declining for much of last year, existing home sales were poised for rebound. Pending home sales, which reflect purchase contracts, had jumped 4.6% in January, which meant that sales, which reflect closings, would likely rise in February." "Seasonal adjustment likely exaggerated the extent of the improvement. The 5.51 million-unit pace is 1.8% below the year ago pace, which was also the cyclical peak. Benefitted… 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.
