Today, the U.S. Census Bureau reported on the developments in number of new homes sold in the U.S during September 2012: the number of new homes sales rose compared with the number of new homes sold during August 2012.
According to the recent update, during September 2012 the annual rate of number of U.S new home sales reached 389,000 (seasonally adjusted); this figure is 5.7 percent above the revised annual rate in August 2012 of 368,000 sales, and it is also 27.1% above the annual rate in September 2011.
The median sales price of new dwellings sold in September 2012 rose to reach $242,400.
Currently this news doesn’t seem to have much of an impact on the U.S stock markets as the market is mostly following the recent publications of the earning reports of major companies. For now, the U.S stock markets including Dow Jones and S&P500 are slightly falling.
Further, precious metals prices also declined yesterday, but they are currently rising. There is a tendency of a negative relation (that should be taken with a grain of salt) between the changes in new home sales and bullion rates: as the number of homes sold fall, precious metals tend to rise.
Current gold price, short term futures (November 2012 delivery) is traded at $1,705.5 per t oz. a $3.9 decrease or 0.23%, as of 16:34*.
Current silver price, short term futures (November 2012 delivery) is traded at $31.75 per t oz. a $0.043 decrease or 0.14%, as of 16:34*.
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