Us Realtors are Bullish, Turn fED Officials Hawkish

All housing market stats are surprising to upside this April.

  • Building permits rose by almost 10% m/m while Housing starts grew by 20%.
  • New home sales grew by 6.8% while existing home sales was slightly down but still above 5 million in April.

According to realtors in US market future is even brighter.

  • Realtors in US are now more confident over next 6 months for all property types in the next six months than they were in March and a year ago according to the April 2015 Realtors Confidence Index Survey. The April 2015 report is based on the responses of 2,012 participants about local market conditions in April.
  • For the third month in a row, the index rose above 50 for all property types. Above 50 indicates strong outlook.
  • In the single family market, Realtors Confidence Index – Six-month outlook rose to 76 compared to 75 in March 2015 and 68 in April 2014.
  • The index for townhomes rose to 58 compared to 56 in March 2015 and 49 in April 2014.
  • Index for condominiums increased to 52 compared to 51 in March 2015 and 46 in April 2014.

With strong outlook in US housing market expect FED officials to be confident enough to consider hike over the next few meeting. As of now, by the communications June is unlikely and September seems very much likely.

Dollar will keep its momentum as data are backing up once again after cold winter. Dollar index is currently trading at 97.32, covered all its earlier loss in the day.

The material has been provided by InstaForex Company – www.instaforex.com

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