- **Sweden GDP Change in Reference Year to 2014**
- Spain: Advanced CPI & HICP, Consumer Confidence (May), BOP (Mar), Central Bank Balance Sheet (Apr)
- Germany: Retail Trade (Apr)
- France: PPI (Apr)
- Switzerland: GDP (Q1)
- Italy: GDP Press Release (Q1), CPI (May-Prelim)
- Euro area: Monetary Developments in the Euro Area (Apr)
- Denmark: National Accounts (Q1); Norway: Retail Trade (Apr);
- more updates...
Economy in Brief
U.S. Initial Claims for Jobless Insurance Move Up
The job market remains on a firm footing...
Momentum in EU/EMU Grinds to a Halt...and Then?
Both the EU and EMU measures of overall sentiment came up flat in May...
U.S. State Unemployment Rates Trend Lower but Vary Widely
The overall U.S. unemployment rate in April of 5.4% stood at its lowest point since August 2008, remaining down from the late-2009 peak of 10.0%...
U.S. Gasoline Prices Inch Higher; Crude Oil Slips
Gasoline prices rose to an average $2.77 per gallon at the pump (-24.5% y/y) last week from 2.74 in the prior week...
U.S. Mortgage Loan Applications Ease as Rates Stay Elevated
The Mortgage Bankers Association reported that its total Mortgage Market Volume Index declined 1.6% last week (+10.9% y/y)...
Germany's Consumer Climate Continues to Improve
German consumer climate will advance to 10.2 in in June after logging 10.1 in May...
by Tom Moeller May 28, 2015
The National Association of Realtors (NAR) reported that pending sales of single-family homes increased 3.4% during April following a little-revised 1.2% gain during March. The latest level was the highest level since December 2006. Expectations were for a 0.9% increase according to Bloomberg. These sales are reported as an index with 2001=100. The April value was 112.4, up 45.8% from the 2010 low.
Movement in home sales varied greatly around the country during April. In the Northeast, sales increased 10.1% (7.0% y/y) to the highest level in two years. Sales in the Midwest rose 5.0% (11.6% y/y) to the highest point since November 2005. In the South, sales increased 2.3% (14.6% y/y) to the highest level since March 2006. Home sales in the West were little-changed (18.4% y/y) at the highest level since June 2012.
The pending home sales figures are analogous to the new home sales data from the Commerce Department. They measure home sales when the sales contract is signed, not at the time the sale is closed. In developing the model for the index, the NAR demonstrated that the level of monthly sales contract activity parallels the level of closed existing home sales in the following two months. The series dates back to 2001 and the data are available in Haver's PREALTOR database.
|Pending Home Sales (%, SA)||Apr||Mar||Feb||Y/Y||2014||2013||2012|