US home sales fall, Wait Bernanke's discourse

August new home sales dropped 2.3% to 295,000. It was in line with consensus expectations and comes after July was upwardly revised to a 302,000 unit pace (was 298,000). The Northeast fell 13.6% to a 19,000-unit pace, likely from Hurricane Irene distortions. However, the South and the West also declined, down 2.4% and 6.3%, respectively. The Midwest had an 8.2% gain to 53,000, the third monthly gain. Total sales are up 6.1% over last August, with the Midwest up 65.5% year over year and the South up 9.3%. The Northeast and the West are down 36.7% and 10.6%, respectively. The months' supply of unsold homes on the market edged up to 6.6 months, near the 6.5-month rate in July and the historic averages of 5.5 to 6 months. The median sales price fell 8.7% in August over last year to $209,100. The report came in about as expected, to likely have a small effect on markets today.


Ben Bernanke Chairman FOMC is to deliver speech tommarow and Would add to Juices of the Fomc meet


Chocolate to the Diabetic :


While, Germans are calling EFSF as the ' Chocolate to Diabetic' and the Greece despise towards the Germans is on Rise. French Leaders are intense in Defacing the EFSF and is the Campaign Issue