U.S. home sales preview - Nomura
|Analysts at Nomura offered a preview of the final U.S.s data for the week in existing home sales.
Key Quotes:
"It appears that some snowstorms in January delayed home
closings—as existing home sales are counted at contract closings—leading to a drop-off in sales in February. However, we saw a partial rebound in sales in March, and we expect to see a more complete rebound in April as weather conditions have, for the most part, been favorable for activity over the last couple of months.
The pending home sales index, which should lead existing home sales by a couple of months, increased in both February and March, suggesting that we are likely to see a continued increase in existing home
sales in April.
As such, we forecast a 1.3% increase in existing home sales in April to an annualized 5400k (Consensus: 5400k). We believe the tight supply of homes available for sale will constrain home sales to some extent in the near-to-medium term, and should lead to increased construction of new homes."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.