Search
KBC News Picks
0
0
US: Existing home sales rebound, but inventories are rising
Tue, Aug 26 2008, 07:25 GMT
by KBC Market Research Desk
Existing home sales unexpectedly rebounded in July, rising 3.1% M/M to 5.00M after falling a downwardly revised 2.8% M/M (to 4.86M) in June. Both sales of single family homes (3.1% M/M from -3.4% M/M) and sales of condos (3.4% M/M from 1.7% M/M) were rising. Regionally sales were only lower in the south (-0.5% M/M). The total number of homes available for sale rose from 4.495M in June to 4.669M in July and the months’ supply on the market widened to 11.2 after reaching 11.1 in June, a not so favourable development. Looking at prices, both the median and average prices for an existing home were lower on a monthly basis, while the median price was 7.1% down against June 2007 and the average price was 8.0% Y/Y down. Although sales were better than expected, inventories are still rising which indicates that housing market conditions are still weak.
Published on Tue, Aug 26 2008, 07:28 GMT
Archive
- US: manufacturing ISM shows deepening recession
Published On Tue, Dec 2 2008, 08:30 GMT - EMU: CPI inflation falls sharply in November
Published On Mon, Dec 1 2008, 08:15 GMT - EMU: Economic sentiment falls to 16-year low
Published On Fri, Nov 28 2008, 08:39 GMT - US: durables show that firms are slashing sales
Published On Thu, Nov 27 2008, 08:30 GMT - US: Third quarter GDP contracts by 0.5%
Published On Wed, Nov 26 2008, 08:48 GMT
KBC Bank
| Havenlaan 12, 1080 Brussels
http://www.kbc.be/dealingroom | piet.lammens@kbc.be
Legal disclaimer and risk disclosure
This non-exhaustive information is based on short-term forecasts for expected developments on the financial markets. KBC Bank cannot guarantee that these forecasts will materialize and cannot be held liable in any way for direct or consequential loss arising from any use of this document or its content. The document is not intended as personalized investment advice and does not constitute a recommendation to buy, sell or hold investments described herein. Although information has been obtained from and is based upon sources KBC believes to be reliable, KBC does not guarantee the accuracy of this information, which may be incomplete or condensed. All opinions and estimates constitute a KBC judgment as of the data of the report and are subject to change without notice.Interested in forex trading? forex brokerage firms!
FXstreet.com will give you a 3 months membership as soon as minimum rebates have been generated (€150 for private trader/ €300 for corporate trader)
[Read Premium full description]
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.
Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
©2008 "FXstreet.com. The Forex Market" All Rights Reserved.