Existing Home Sales from National Assoc of Realtors
August's Existing Home Sales was posted at 10:00 AM ET. The National Association of Realtors announced a 1.7% decline in home resales last month. This was weaker than expected, hinting at a softening housing sector. However, the decline is being attributed to a 25% drop in Houston area sales, related to Hurricane Harvey. Therefore, not much weight is being given to the data this morning. Traders are more interested in this afternoon’s events.