Pending home sales fall 5.6% in September | Forex Factory

Pending home sales fall 5.6% in September | Forex Factory

Pending home sales fall 5.6% in September

From marketwatch.com

A gauge of upcoming home sales dropped in September to the lowest level in nine months, a sign that higher prices and rates are slowing down the housing market's rebound, according to data released Monday by the National Association of Realtors. Pending-home sales fell 5.6% in September -- a fourth month of declines -- to hit the lowest level since December. Pending sales of homes were down across the country in September, with a monthly decline of 9.6% in the Northeast, 9% in the West, 8.3% in the Midwest and 0.4% in the South. September is the first period in more than two years that pending sales weren't higher ... (full story)

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Oct 28, 2013 9:51am

One interesting indication - retailers start to move to long on cable and euro (how wise is to buy at the top of a couple months trend is another discussion). Given that since cable levels 1.48xx about 65-70% of retailers are shorting with persistent vigour - now they turn to buying - a lot of money will change hands again :-).

Oct 28, 2013 12:23pm

Gold is going up by 2015... The U.S will be flirting with a double dip if there's no deal with the republicans... they hold the keys... After 3 rounds of QE, that's all the housing worth???? There is a problem somewhere

Oct 28, 2013 10:54am

next target eur/usd 1.4000 then 1.4400

Oct 28, 2013 8:34am

just look at gold 1361 my tgt 1480 intact
buy given at 1315

Oct 28, 2013 7:11am

Well you can expect either some monetary interference to nip this in the bud or this could get worse. Keep in mind, winter time is not exactly the best time to be selling a home, aesthetics go a long way in selling homes.

The Northeast was not as impacted by the housing bust as the other regions and now we see this major monthly decline. Not good news for the wealthiest area of the USA.

Oct 28, 2013 7:28am

Essentially I see it as yet another data point coming out of the U.S suggesting that any idea of "recovery" is absolutely ridiculous.

Housing will continue to flounder, as will unemployment, blah , blah the list goes on....

The disconnect between "U.S Macro data" and "U.S equitiy prices" has never been greater, but of course - look for that to grow further as QE 5 and 6 enter headlines.

Oct 28, 2013 12:54pm

USD is clearly bottoming here, as both it's daily and intermediate cyclical low are due.

Unreal.....take a look at a weekly chart and draw a horizontal line at 79.00

EURo and GBP both heading down vs USD on big bounce off this clear area of support.

Oct 28, 2013 12:24pm

Gold $2100/Oz by 2015....

Oct 28, 2013 12:43pm

Quoting sheety

Disliked

just look at gold 1361 my tgt 1480 intact
buy given at 1315

Ignored

yeah , boi!!

Oct 28, 2013 7:04am

So what we can expect ?

Oct 28, 2013 7:07am

No change in the market......!

Trader#70EA

Oct 28, 2013 7:14am

Freevestor, all these numbers are seasonally adjusted. Consequently, it does not matter what season we are in when assessing the health of the housing market. Unusual weather for a given season can positively or negatively affect these numbers.

Oct 28, 2013 7:31am

The supposed USA recovery writ large.

Trader#4525

Oct 28, 2013 7:35am

^I mean, would you buy a house with the rate spike that occured going into Sept FOMC? Would you buy a house with government shutdown worries on your mind?

...Don't think so. This number makes sense for the conditions at the time and really isn't reflective of the bigger picture.

People are so quickly to sell USD, be careful : )

Oct 28, 2013 10:15am

Sure looks to be set up for the down move on several charts too.

Oct 28, 2013 11:19am

who is still sitting on selling and y?

Trader#36BF

Oct 28, 2013 7:06am

^^ USD negative

Trader#A3CF

Oct 28, 2013 7:09am

fakeout

Story Stats

Oct 28, 2013 7:01am
Posted by
Newsstand

High Impact Breaking

18

7,821
Linked events:

US Pending Home Sales m/m