U.S. Existing Home Sales Inclined in August 2011

The US existing homes sales rate rose in August 2011 by 7.7%; this news comes despite the ongoing tight credit problems in the US and the slowdown in housing starts fell in August.

According to the recent report of the Realtors’ organization, the annual rate of US existing home sales inclined in August compared with July’s annual rate. The seasonally adjusted annual rate reached 5.03 million home sales in August compared with an annual rate of 4.67 million home sales in July 2011, a 7.7% increase (M-2-M), and 18.6% above the 4.24 million annual rate of home sales in August 2010.

This news is following yesterday’s report of a moderate slowdown in the housing starts during August compared with July’s rate.

This news might positively affect trading including the trade in the US stock markets as they have opened trade with mixed trends with the S&P500 index slightly falling by 0.02%, the Dow rising by 0.08% and the NASDAQ inclining by 0.56%.

Current gold price, short term futures (October 2011 delivery) is traded at $1,798.1 per t oz. an $11.1 decrease as of 14:39*.

Euros to US dollar exchange rate is currently traded down at 1.3677 a 0.1865% decrease as of 14:53*.

Current Nymex crude oil price, short term futures (October 2011 delivery) is traded down by 0.58% to $86.34 per barrel as of 14:49*.

(* GMT)


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