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U.S. Existing Home Sales Declined Again in September

Meanwhile, jobless claims fell

Sales of existing U.S. homes slid for an eighth straight month in September and will likely fall further in the months ahead as the housing market continues to stand out as the economic sector absorbing the hardest hit from the Federal Reserve's aggressive interest rate hikes.

The broadly weak report from the National Association of Realtors on Thursday stood in contrast with another strong reading of the U.S. job market, with the Labor Department reporting an unexpected drop last week in the number of people seeking unemployment benefits for the first time.

The two reports illustrate the uneven impact seen so far from the swiftest series of Fed rate hikes in at least four decades.

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