U.S. New Home Sales Dropped Again in August 2011

Yesterday, the U.S. Census Bureau reported on US new homes sales for August 2011 and it showed another drop in number of homes sold compared with July’s numbers.

According to the report, in August 2011 the annual rate of number of US new home sales reached 295,000 (seasonally adjusted); this figure is 2.3 percent below the revised annual rate in July 2011 of 302,000 sales, but it’s 6.1% above the annual rate in August 2010.

The median sales price of new dwellings sold in August 2011 reached $209,100.

This news continues the downward trend in the housing markets in which the new home sales keep on falling. That being said, given the currently high speculation in the financial markets this news isn’t likely to stir up the commodities markets.

Currently, major commodities prices are traded up, as they slowly recover from their falls in the past few days:

Current Nymex crude oil price, short term futures (October 2011 delivery) is traded up by 2.90%, at $82.57 per barrel as of 10:35*.

Current gold price, short term futures (October 2011 delivery) is traded at $1,673.30 per t oz. a $78.5 increase or 4.92%, as of 10:31*.

Euros to USD exchange rate is currently traded down at 1.3514 a 0.1354% decrease as of 10:39*.

(* GMT)


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