Does Thursday’s U.S. Home Sales Two-Year High Prove Housing Market Momentum?

Home Sale purchases rocketed 4.4 percent up to 377,000 Thursday. This annual pace is the highest since April 2010.

In the past two weeks we have also seen building permits hit a 4-year high.

This housing market momentum is definitely not something to disregard.

Whether this is being caused by QE3 is a different story and difficult to gauge.

In light of the fiscal cliff, the housing market momentum is not enough evidence for a long-term fundamental position but as we move into the new year, the housing market could continually rise for a season effecting U.S. Dollar sentiment.

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