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Existing Home Sales at an annual rate of 5.46 million

Friday, Jan 22 2016
Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, ascended 14.7 percent to a seasonally adjusted annual rate of 5.46 million in December from 4.76 million in November. Analysts were predicting rate of 5.21 million. After last month's turnaround (the largest monthly increase ever recorded), sales are now 7.7 percent above a year ago.
 Lawrence Yun, NAR chief economist, says December's robust bounce back caps off the best year of existing sales (5.26 million) since 2006 (6.48 million). "While the carryover of November's delayed transactions into December contributed greatly to the sharp increase, the overall pace taken together indicates sales these last two months maintained the healthy level of activity seen in most of 2015," he said. "Additionally, the prospect of higher mortgage rates in coming months and warm November and December weather allowed more homes to close before the end of the year."
 
Euro is currently being traded few points above 1.0850 level, Sterling is around 1.43 handle, while Aussie is around 0.70 area. 
More in this category: « UK Retail Sales down 1.0% USD - Major events in the week ahead »

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