US DATA: September existing home sales -3.0% to 4.91 mln (4.95 mln
expected); Aug rev slightly upward to 5.06 mln. Inventories 8.5 mos,
same as initially reported for Aug which now revised to 8.4. Seasonal
decline in inventories underway, from Sep’s 348 mln units to as low as 3
mln by winter, NAR econ says. While Sept was ‘nothing exciting,’ sales
rate at least is hanging around 5 mln, and NAR still seeing 4.9 mln
total sales for yr. Sales down in MW,South and West, where dropped the
most, -8.8%, perhaps because of loan limit and down payment changes by
lenders. NE’s 2.6% increase perhaps rebound from bad weather, econ aid.
Nat’l median price $165,400 in Sept, -3.5% from yr earlier.