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  • Existing-Home Sales Decreased 0.7% in August

    From nar.realtor

    Existing-home sales moved lower in August, according to the National Association of REALTORS®. Among the four major U.S. regions, sales improved in the Midwest, were unchanged in the Northeast, and slipped in the South and West. All four regions recorded year-over-year sales declines. Total existing-home sales1 – completed transactions that include single-family homes, townhomes, condominiums and co-ops – slid 0.7% from July to a seasonally adjusted annual rate of 4.04 million in August. Year-over-year, sales fell 15.3% (down from 4.77 million in August 2022). "Home sales have been stable for several ... (full story)

Investor is selling USD. and published USD soft/mixed data and start melting USD ahead of FED rate cutting 100 bps. I think, It is time to buy Gold.
Gold will drop to 1860 before it starts a big upward move to 2100
Quoting forexpcb777
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Most Americans can not afford a Home. That is why Builders are forced into producing product for the Luxury market, which is now saturated. Exemplified by fall in new home starts.
As long as jackasses in Washington DC continue to piss away US wealth on every feel good socialist fantasy which includes all the War funding cause you know Russia Russia Russia, this Nation is headed into a major economic event.

Even Mr. Cash is trash Ray Dalio is now suggesting going into Cash.
If anyone is interested in just how poor these numbers are pull up the chart on calendar page.
Only one month in 2010 which was nadir of GFC had a lower print.
At height of Covid shutdown count was a bit lower and at start of 2023 lows were comparable.

This is what a swooning financial press insists is good times. More like boot licking financial press.
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