- US: Housing Vacancies & Homeownership (Q3), Adv Durable Goods (Sep)
- US: Regional Building Permits (Sep and YTD)
- US: Pending Home Sales Index (Sep)
- Italy: Business and Consumer Survey (Oct), Contractual Wages (Sep)
- UK: GDP (Q3-Prelim), CBI Distributive Trades Survey (Oct)
- Qatar: Foreign Trade (Sep); Turkey: Tourism (Sep), Economic Confidence Index (Oct); South Africa: PPI (Sep), Export & Import Value Index (Aug); Ghana: PPI (Sep)
- Germany: SA Money Supply (Sep)
- more updates...
Economy in Brief
U.S. Mortgage Loan Applications Fall
The MBA total Mortgage Market Volume Index declined 4.1% last week (+17.9% y/y)...
German Confidence Expected to Retreat
German consumer confidence is on the decay again...
U.S. Consumer Confidence Deteriorates
The Conference Board reported that's its Consumer Confidence index for October declined 4.7% (-0.5% y/y) to 98.6...
U.S. FHFA House Price Index Increase Strengthens
The FHFA U.S. house price index increased 0.7% during August following an unrevised 0.5% July gain...
Philadelphia Fed Index of Nonmanufacturing Business Is Steady; Expectations Sag
The Philadelphia Fed reported that its October Index of Nonmanufacturing Sector Activity at the company level was little changed at 16.3...
U.S. Gasoline & Natural Gas Prices Ease
Regular gasoline prices dipped to $2.24 per gallon (+0.7% y/y) last week...
by Tom Moeller October 26, 2016
Sales of new single-family homes increased 3.1% (29.8% y/y) during September to 593,000 (AR) following an 8.6% August decline to 575,000, revised from 609,000. Sales of 604,000 had been expected in the Action Economics Forecast Survey. Despite the increase, sales remained 57.3% below the July 2005 peak.
The median price of a new home improved 6.7% (1.9% y/y) to $313,500 versus $293,800 in August, revised from $284,000. The average price of a new home increased 6.0% (2.7% y/y) to $377,700 following a 0.5% rise.
Last month's rise in new home sales was paced by a one-third recovery in the Northeast to 32,000 (60.0% y/y), which reversed most of the August decline. Sales in the Midwest increased 8.6% (33.3% y/y) to 76,000 after a 13.6% decline. New home sales in the South improved 3.4% (25.7% y/y) to 338,000 after an 11.4% fall. To the downside were sales in the West where a 4.5% fall (+32.4% y/y) to 147,000 followed two months of firm increase.
The months' supply of homes at the current sales rate of 4.8 remained below the high of 5.8 months, one year ago. The median number of months a new home was on the market declined to 3.1 (NSA), the lowest level since December.
The data in this report are available in Haver's USECON database. The consensus expectation figure from the Action Economics Forecast Survey is available in the AS1REPNA database.
Trend Job Growth: Where's Normal? from the Federal Reserve Bank of San Francisco is available here.
|U.S. New Single-Family Home Sales (SAAR, 000s)||Sep||Aug||Jul||Sep Y/Y %||2015||2014||2013|
|Median Price (NSA, $)||313,500||293,800||295,500||1.9||297,258||283,775||265,092|