The National Association of Realtors® (NAR) presented their latest existing home sales information today. Happily, September saw a gain in existing home sales. In total, sales increased 10 percent, which is still 19.1 percent lower than September 2009 levels. This difference is likely due to the tax credits offered to home buyers in 2009 and early 2010 that are not currently being offered as incentive to home buyers. The chief economist with the NAR said that the housing recovery is, “taking place.” You can access the full press release here.
European markets were up today while Asian markets were mixed. European markets seem improved after G-20 ministers issued a statement this weekend that stated they would not take part in policies that were economically protective to their respective nations and could have an adverse affect on other countries.
The Dow Jones Industrial Average gained 31.49 points to 11,164.05. The Nasdaq rose 11.46 points to 2,490.85 while the S&P 500 climbed 2.54 points to 1,185.62.
Stocks in the news: RadioShack Corp (NYSE: RSH), Office Depot Inc (NYSE: ODP), Eastman Chemical Company (NYSE: EMN).