News

US: New Home Sales roar back in February – Wells Fargo

Data released today showed that new home sales rose 4.9% in February. According to analysts at Wells Fargo, discounting has helped bring back home buyers.

Key Quotes: 

“The weakness in sales during the fourth quarter and fears the Fed would continue to hike interest rates encouraged builders to slash prices late last year, particularly in the West. Prices are now below their year-ago level and that is bringing back buyers.”

“Lower mortgage rates are also bringing buyers back, particularly in the South and West, and are still falling.”

“While today’s good news on home sales is certainly welcome, the improvement comes at a seasonally slow period and was exaggerated by seasonal adjustment.”

Articles You May Like

USD/JPY technical analysis: Down but not out, remains on hunt for 200-day MA hurdle
Weekend’s headlines suggest more work to be done in Brexit talks – Bearish GBP/USD gap?
The EASIEST Setup That NEVER Fails In The Forex Market? (SIMPLE And 100% PROFITABLE)
LIVE Forex Trading – NY Session 14th October 2019
France’s Le Maire: There is a glimmer of hope for a Brexit deal

Leave a Reply

Your email address will not be published. Required fields are marked *