- US: Advance Durable Goods, Advance Trade & Inventories (Mar)
- Brazil: PPI (Mar); Mexico: Compensation and Productivity (Feb)
- Canada: Payroll Employment, Earnings, & Hours (Feb)
- Spain: Advanced HICP & CPI, Construction Business Survey Press (Apr)
- Belgium: CPI (Apr)
- Germany: GfK Consumer Climate Survey, State CPI: Bavaria, Saxony, Berlin, Hesse, North Rhine-Westphalia, Brandenburg (Apr)
- Building Permits (Feb)
- UK: Motor Vehicle Production (Mar)
- more updates...
Economy in Brief
U.S. Gasoline Prices Are Little-Changed; Crude Oil Falls
Regular gasoline prices of $2.45 per gallon last week (13.3% y/y)...
Japan's METI Indexes Show Ongoing Gains
The services sector is assessed by the METI indexes where it is named the 'tertiary sector.' That sector index rose to 104.1 in February...
U.S. New Home Sales & Prices Strengthen
Sales of new single-family homes increased 5.8% (15.6% y/y) during March to 621,000...
U.S. Consumer Confidence Backpedals
The Conference Board Consumer Confidence Index fell 3.7% during April (+27.0% y/y) to 120.3...
U.S. FHFA House Price Index Regains Strength
The FHFA U.S. house prices increased 0.8% during February (6.5% y/y)...
French Manufacturing and Service Sectors Weaken But Stay on Trend or Hold Recent Gains
The French manufacturing sector trend index is down to 1 in April from 3 in March...
by Tom Moeller February 24, 2016
Sales of new single-family homes declined 9.2% during January (-5.2% y/y) to 494,000 (SAAR) and reversed December's 8.2% increase to an unrevised 544,000. December sales were biased by new closing procedures which shifted sales out of November. Sales of 520,000 had been expected in the Action Economics Forecast Survey.
The median price of a new home declined 5.7% (-4.5% y/y) to $278,800 versus December. The average sales price increased 5.2% m/m to $365,700 (2.7% y/y).
By region, there was considerable variation in sales m/m. Home sales in the Northeast increased 3.4% and doubled y/y to 30,000. In the South, sales gained 1.8% (-2.0% y/y) to 290,000. Moving lower by 5.9% to 64,000 (-1.5% y/y) were sales in the Midwest while sales in the West fell by nearly one-third m/m (-24.1% y/y) to 110,000.
The inventory of unsold homes increased 14.4% y/y and there was a 5.8 months supply at the current sales rate. That figure was up from a recent low of 4.0 months in January 2013. The number of months a new home was on the market remained near the record low at 3.4 months.
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.
Recent Monetary Policy Developments is the title of yesterday's speech by Fed Vice Chairman Stanley Fischer and it is available here.
|U.S. New Single-Family Home Sales (SAAR, 000s)||Jan||Dec||Nov||Y/Y %, SA||2015||2014||2013|
|Median Price (NSA, $)||278,800||295,800||304,300||-4.5||294,575||283,775||265,092|