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Tuesday, November 22, 2016

US Oct existing home sales 5.60m vs 5.44m expected

  • Prior was 5.47m (revised to 5.49m)
  • Sales +2.0% m/m vs -0.6% expected
  • Prior +3.6% m/m
  • 5% of sales distressed vs 4% in Sept
  • Median home price +6.0% y/y
  • Median price of $232,000
Good, solid report but it's a low-tier housing indicator.
The US dollar ticked higher on the release and it's yet-another confirmation that the Fed will hike in December.

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