Monthly Existing Home Sales

The monthly Existing Home Sales was released yesterday for the Month of October. Existing Home Sales measures the annualized number of residential buildings that were sold during the previous month, excluding new construction. It is considered a leading indicator of economic health cause the transactions from one sale ripples throughout the financial industry (hence our problem in the first place).  The forecasted number called for 4.51 million, but the headline number disappointed by coming in at 4.43 million.