US data shows housing uptick


first_img Pending sales of previously owned US homes rose to a four-month high in August, implying the housing market was regaining some stability after recent steep declines following the end of a home-buyer tax credit.Another report yesterday showed new orders received by domestic factories fell 0.5 per cent in August as demand for transportation equipment fell sharply. Analysts had forecast a drop of 0.4 per cent in August.However, excluding the transportation segment, factory orders rose 0.9 per cent.The data offered few fresh clues on whether the Federal Reserve would embark on a new round of monetary policy easing next month, as widely anticipated by financial markets.“Sales have stabilised at very, very low levels after the expiration of the federal tax credits. At these low levels, you could see some good percentage increases in sales, but it doesn’t show any sustainable uptrend in housing conditions,” said Ryan Wang, an economist at HSBC Securities in New York.The National Association of Realtors said its Pending Home Sales Index, based on contracts signed in August, increased 4.3 per cent to 82.3 from July. Economists polled by Reuters forecast the index, which leads existing home sales by a month or two, rising three per cent in August from July. Compared to August last year, pending home sales were down 20.1 per cent.The group’s chief economist, Lawrence Yun, said the latest data are consistent with a gradual improvement in home sales in upcoming months.“Attractive affordability conditions from very low mortgage interest rates appear to be bringing buyers back to the market,” he said in a statement.“However, the pace of a home sales recovery still depends more on job creation and an accompanying rise in consumer confidence.” Monday 4 October 2010 8:22 pm Share US data shows housing uptick Video Carousel – cityam_native_carousel – 426 00:00/00:50 LIVERead More Show Comments ▼ KCS-content whatsapp More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndothedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comUndo Tags: NULL whatsapplast_img

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