Connecting the Dots
The April U.S. existing home sales data is causing analysts and traders across the entire spectrum of capital market products to re-evaluate their expectations for U.S. economic activity for the foreseeable future. Although home sales have increased on a year-over-year basis, the timing of the April reduction is of paramount importance as an economic indicator.
With mortgage rates are at record low levels and continuous stories of a housing rebound this year, many analysts had been predicting a sustained increase in home sales. The seasonally busy spring housing market is always the most critical for the industry as it sets the industry's tone for the rest of the year. But this unexpected April stumble in sales has also caused renewed questions about the rest of the consumption and production cycles that follow home sales....557 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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