Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
U.S. existing home sales fell again by 5.9% from September to a seasonally adjusted annual rate of 4.43 million in October, the lowest level since December 2011 in the midst of the foreclosure crisis, the National Association of Realtors said Friday. From a year ago, sales have dropped by 28.4% as mortgage rates climbed close to 7%. Wall Street analysts had expected a larger slowdown to a 4.38 million SAAR pace.
The median home sales price was USD379,100 in October, 6.6% higher than a year ago but down about 10% -- more than usual -- from the seasonal peak seen around June every year, NAR chief economist Lawrence Yun told reporters. Surprisingly, many homes are still receiving multiple offers due to tight inventory, Yun said, noting a quarter of homes received offers over the asking price.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.