Are There Enough Existing Homes To Meet U.S. Buyer Demand?
Existing Home Sales is a report issued by the National Association of Realtors each month that shows the amount of completed transactions of single-family homes, townhomes, condominiums and co-ops. Traders can better judge the overall U. S. economic strength by what is happening in with sales of existing homes.
Lawrence Yun, NAR chief economist, said, "Realtors® are reporting that low (interest) rates are attracting potential buyers, but the lack of new and affordable listings is leading some to delay decisions."
"Although sales cooled in January, home prices continued solid year-over-year growth," adds Yun. "The labor market and economy are markedly improved compared to a year ago, which supports stronger buyer demand. The big test for housing will be the impact on affordability once rates rise."
The U.S. Existing Home Sales is a report of high importance and can have a significant affect on your trading when it is released. If its reading comes out higher than expected, it should be regarded as positive for the USD side of your trades. If it is lower, then take it as negative for the USD. Last month the reading was 4.82 million. The forecast for this report is 4.90 million.
How To Trade This News Report
By 9:00 a.m. EDT you should have already found the Iron Condor spreads you want to use on Nadex EUR/USD. Be ready and waiting for just the right price on both the upper and lower spread contracts. Since this report is released at 10:00 a.m., you can enter as early as 9:00 a.m. Buy the lower spread and sell the upper spread having the price close to the ceiling of the lower and the floor of the upper in order to make max profit. The minimum profit you are looking for is $30 with an 11:00 a.m. expiration.
If you would like to further your trading education, visit www.apexinvesting.com, a service of Darrell Martin.
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