US Existing Home Sales decline 4.1% in October

• Existing Home Sales in the US continued to decline in October.
• US Dollar Index stays in negative territory below 103.40.

Existing Home Sales in the US declined 4.1% in October to a seasonally adjusted annual rate of 3.79 million, below the 3.9 million of market consensus. 

“The median existing-home sales price climbed 3.4% from one year ago to $391,800 – the fourth consecutive month of year-over-year price increases”, the report mentioned. 

The inventory of unsold existing homes rose 1.8% from September to 1.15 million in October, “or the equivalent of 3.6 months’ supply at the current monthly sales pace.”

Market reaction

The US Dollar is falling for the third consecutive day, trading under 103.40, at the lowest level since August.