U.S Existing Home Sales Declined in September 2011

The U.S existing homes sales rate slipped in September 2011 by 3.0%; this news comes despite the recent gains in the housing starts report.

According to the recent report of the Realtors’ organization, the annual rate of US existing home sales declined in September compared with August’s annual rate. The seasonally adjusted annual rate reached 4.91 million home sales in September compared with an annual rate of 5.06 million home sales in August 2011, a 3.0% decrease (M-2-M), but 11.3% above the 4.41 million annual rate of home sales in September 2010.

This news is following yesterday’s report of a sharp increase in the housing starts during September compared with August.

This news might adversely affect trading including the trade in the U.S stock markets: the major American stock indexes such are traded down: the S&P500 index slightly falling by 0.39%, the Dow by 0.43%, and the NASDAQ by 1.09%.

Current gold price, short term futures (November 2011 delivery) is traded at $1,622.1 per t oz. a $24.9 decrease as of 15:51*.

Euros to US dollar exchange rate is currently traded down at 1.3729 a 0.2278% decrease as of 15:40*.

Current Nymex crude oil price, short term futures (November 2011 delivery) is traded down by 0.67% to $85.53 per barrel as of 15:52*.

(* GMT)

For more on this subject: