New U.S. single-family home sales surged to an eight-month high in March, pointing to underlying strength in the economy despite an apparent sharp slowdown in growth in the first quarter.
The U.S. based Equity Markets are pointing to a mixed open this morning. Asian markets closed mixed in the overnight session. European markets are mostly lower heading into the afternoon session as European financials see continued volatility.
The third week of May returns to more extensive economic data after a somewhat lighter second week that ended with the still very important US Retail Sales. There are no central bank rate decisions or further Quantitative Easing (QE) announcements expected this week. Yet international fundamental influences are still there in the form of Wednesday morning’s Organization for Economic Cooperation and Development (OECD) Q1 2016 Quarterly GDP Growth.
U.S. home resales fell sharply in February in a potentially troubling sign for America's economy which has otherwise looked resilient to the global economic slowdown.
Sales of existing homes in the United States are expected to pick up next year, although house price inflation probably will not, according to a Reuters poll of economists who predicted the nation'
New U.S. single-family home sales rose more quickly than expected in August on the back of a strong upward revision for the prior's month's growth, pointing to a strengthening recovery in America's housing market.
New U.S. single-family home sales rose more than expected in April and the median price surged, suggesting the housing market recovery was gaining traction.
New U.S. single-family home sales in March recorded their biggest drop in more than 1-1/2 years, snapping three straight months of hefty gains, in a temporary setback for the housing market.
