US Home Sales Flat in October

Contracts to buy previously owned U.S. homes turned in a barely perceptible gain in October amid a limited inventory of homes for sale despite still-strong demand, the National Association of Realtors said on Wednesday.

The group said its pending home sales index, based on contracts signed last month, increased just 0.1 percent to 110.0. The September index was revised slightly downward to 109.9 from an originally reported 110.0.

Analysts polled by Reuters had forecast a 0.2 percent increase in October.

But the October index was 1.8 percent higher than in October 2015, the NAR said.

Across the nation’s four regions, contracts rose 0.4 percent in the Northeast in October, while they rose 1.6 percent in the Midwest and 0.7 percent in the West. They fell 1.3 percent in the South.

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza