U.S Existing Home Sales Inclined in October 2011

The U.S existing homes sales rate changed direction and slightly rose in October 2011 by 1.4%; this news comes despite the recent falls in the housing starts report.

According to the recent report of the Realtors’ organization, the annual rate of US existing home sales inclined in October compared with September’s annual rate. The seasonally adjusted annual rate reached 4.97 million home sales in October compared with an annual rate of 4.90 million home sales in September 2011, a 1.4% increase (M-2-M), and 13.5% above the 4.38 million annual rate of home sales in October 2010.  This news may slightly curb the ongoing sharp falls in the U.S. stocks and commodities markets:

Currently, the major American stock indexes are traded down: the S&P500 index is falling by 2.02%, the Dow by 2.33%, and the NASDAQ by 2.05%. Major commodities are also traded sharply down:

Current gold price, short term futures (December 2011 delivery) is traded at $1,670.7 per t oz. a $54.4 decrease as of 19:00*.

Euros to US dollar exchange rate is currently traded down at 1.3509 a 0.1181% decrease as of 19:19*.

Current Nymex crude oil price, short term futures (December 2011 delivery) is traded down by 1.76% to $95.95 per barrel as of 19:06*.

(* GMT)

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