Joseph Greco Breaks Down New vs. Pending Home Sales 📊

<p>Joespeh Greco, Managing Director of Meridian Equity Partners, weighs in on the latest new home sales and pending home sales data.</p><br /><p>Data on Wednesday showed that sales of new single-family homes in the U.S. soared to a two-and-a-half year high to 5.7 percent. Other data released Thursday indicated that the National Association of Realtors U.S. Pending Home Sales Index for September rose only modestly in September.</p><br /><p>The Federal Open Market Committee released a statement Wednesday saying that the Fed would continue buying $40 billion in mortgage-backed securities per month until the labor market improves and repeated that it expects to keep rates near zero until at least mid-2015.</p>