22 Dec 2014
US existing home sales might decline slightly – Nomura
FXStreet (Barcelona) - Research Analysts at Nomura expect that the US existing home sales will decline slightly by -2.1% in November.
Key Quotes
“The share of distressed sales and investor buying in the existing homes market has trended lower, but the share of first-time buyers hasn‟t picked up much, suggesting that repeat buyers are helping propel sales, which have climbed above the 5.00mn mark since June. The pending home sales index, which tends to lead existing sales by a couple of months, declined by 1.1% in October, after rising by 0.6% in September. As such, we judge that existing home sales will decline slightly by -2.1% to an annualized 5.15mn in November.”
Key Quotes
“The share of distressed sales and investor buying in the existing homes market has trended lower, but the share of first-time buyers hasn‟t picked up much, suggesting that repeat buyers are helping propel sales, which have climbed above the 5.00mn mark since June. The pending home sales index, which tends to lead existing sales by a couple of months, declined by 1.1% in October, after rising by 0.6% in September. As such, we judge that existing home sales will decline slightly by -2.1% to an annualized 5.15mn in November.”