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Existing Home Sales dip in the US

By FXstreet.com,  November 23, 2010, 10:16:00 AM EDT

FXstreet.com (Barcelona) - In a day when the American economy keeps sending mixed signals, after a better-than-expected GDP, the housing market plummets, sending the Existing Home Sales below forecast to an annualized 4.43M in October, or a 2.2% drop, the National Association of Realtors published. After a 10.0% increase to 4.53M in September, the market expected a 1.15 loss to 4.48M.

Lawrence Yun, NAR chief economist, said the recent sales pattern can be expected to continue. "The housing market is experiencing an uneven recovery, and a temporary foreclosure stoppage in some states is likely to have held back a number of completed sales. Still, sales activity is clearly off the bottom and is attempting to settle into normal sustainable levels."








The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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