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Existing Home Sales at an annual rate of 5.33 million

Wednesday, Apr 20 2016
Bolstered by big gains in the Northeast and Midwest, existing-home sales bounced back in March and remained slightly up from a year ago, according to the National Association of Realtors. Total existing-home sales jumped 5.1% to a seasonally adjusted annual rate of 5.33 million in March from a downwardly revised 5.07 million in February. Sales rose in all four major regions last month and are up modestly from March 2015.
 
Lawrence Yun, NAR chief economist, says home sales had a nice rebound in March following February's uncharacteristically large decline. "Closings came back in force last month as a greater number of buyers – mostly in the Northeast and Midwest – overcame depressed inventory levels and steady price growth to close on a home," he said. "Buyer demand remains sturdy in most areas this spring and the mid-priced market is doing quite well. However, sales are softer both at the very low and very high ends of the market because of supply limitations and affordability pressures."
 
Euro is currently being traded few points above 1.1330 level, Sterling is around 1.4380 handle, while Aussie is at 0.78 area.
Last modified on Wednesday, 20 April 2016
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