- Egypt: IP (Feb)
- US: Regional Payroll Employment (Mar)
- US: GDP by Industry (Q4)
- Realtors Confidence Index Survey (Mar)
- US: Existing Home Sales (Mar)
- Manufacturing Survey - Markit US (Flash - Mar), Composite and Services Survey - Markit US (Flash - Mar)
- Mexico: National Employment Survey(Mar)
- *Switzerland: House Price Index - Rebased to Q1-2000=100 (Q1)*
- more updates...
Economy in Brief
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U.S. Leading Economic Indicators Suggest Continued Expansion
The Conference Board's Composite Index of Leading Economic Indicators increased 0.4% (3.5% y/y) during March...
U.S. Initial Unemployment Insurance Applications Increase
Initial unemployment claims for unemployment insurance rose to 244,000 during the week ended April 15 (-5.1% y/y)...
Japan's 'Trade Trends' Stabilize on an Unstable Foundation
Japan trade trends, broadly considered, seem to be stabilizing...
U.S. Mortgage Loan Applications Fall
The MBA total Mortgage Applications Volume Index declined 1.8% last week (-24.9% y/y)...
by Tom Moeller April 21, 2017
Sales of existing single-family homes increased 4.4% during March to 5.710 million units (AR) and reversed a 3.9% February decline to 5.470 million, revised from 5.480 million. The latest level of sales was the highest since February 2007. Expectations had been for 5.550 million purchases in the Action Economics Forecast Survey. Sales of existing single-family homes rebounded 4.3% (6.1% y/y) to 5.0800 million units, also a ten-year high. Sales of condos & co-ops rose 5.0% both m/m and y/y to 630,000 following a 7.7% decline. The figures are reported by the National Association of Realtors.
The median price of all previously owned homes increased 3.6% (6.8% y/y) to $236,400. The rise was to the highest level since August. The average price of an existing home jumped 3.3% to $278,500 (5.3% y/y).
The number of homes on the market declined 6.6% y/y to 1.830 million. The months' sales supply of homes held steady m/m at 3.8, but remained near the lowest level since January 2005.
The rebound in home sales last month reflected a 10.1% increase (4.1% y/y) in the Northeast to 760,000 after a 13.7% decline. Sales in the Midwest rebounded 9.2% (3.1% y/y) to 1.310 million after three months of decline. In the South, sales improved 3.4% (8.5% y/y) to 2.420 million, the highest level since December 2006. Sales in the West eased 1.6% (+5.2% y/y) to 1.220 million following a 3.9% drop.
The data on existing home sales, prices and affordability can be found in Haver's USECON database. The regional price, affordability and inventory data are available in the REALTOR database. The expectations figure is from the Action Economics Forecast Survey, reported in the AS1REPNA database.
Brief Remarks by Federal Reserve Governor Jerome H. Powell can be found here.
|Existing Home Sales (SAAR, 000s)||Mar||Feb||Jan||Y/Y %||2016||2015||2014|
|Median Price Total ($, NSA)||236,400||228,200||227,300||6.8||232,067||219,867||206,708|