World Update: US stocks open mixed as markets await latest Fed decision

Nigeria Update: NSE’s All-share index down by 0.07 per cent
September 20, 2017
Article Update: These 5 signs could tell whether you have a great business idea
September 21, 2017

World Update: US stocks open mixed as markets await latest Fed decision

U.S. existing home sales fell 1.7 percent month on month to a 5.35 million unit rate in August. Below the expectations of 0.2 percent growth to 5.45 million.
The decline was led by a 5.7 percent drop in the South, which may be related to Hurricane Harvey, according to Jim O’Sullivan, chief U.S. economist at High Frequency Economics.
According to the report, “Some of the South region’s decline in closings can be attributed to the devastation Hurricane Harvey caused to the greater Houston area.”
In short, fairly weak, although the data are volatile. Through the volatility, the trend looks close to flat recently. New home sales have been showing more strength, on average.  National Association of Realtors’ officials continue to cite low inventories as a factor restraining existing home sales, and their point looks valid. The inventory of homes for sale equated to 4.2 months’ supply in Aug, unchanged from Jul and historically low.

Comments are closed.