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Existing US Home Sales Fall in November

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Home sales declined in November.
It was the third consecutive month of falling sales, suggesting that higher mortgage rates are putting the brakes on the housing recovery.

The report from the National Association of Realtors showed that sales of previously-owned homes slipped 1.2% to an annual rate of 4.9 million homes sold.
Besides mortgage rates, which have been rising steadily since hitting a record low in the spring, tight supplies of homes for sale and continued tight credit are factors slowing sales, according to Lawrence Yun, the chief economist for the trade group.
“There is a pent-up demand, but the bottleneck is in limited housing supply, due to the slow recovery in new home construction,” he said.

via CNN

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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 has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. 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

@alfonso_forex

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