Existing Home Sales Unexpectedly Rises from December to 14-Year Highs

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The report of sale of existing homes December showed a rise of 0.7%, which was surprising since a decline of 1.4% was expected. In November there had been a fall of 2.2% (revised from -2.5%). In this way, the annual rate of sales reached 6.76 million, the market consensus was for a reading of 6.55 million. It is the highest rate in 14 years.

The dollar remained in decline in the market after the report. Previously, Markit’s preliminary report had also shown figures that were above expectations.

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