- Sweden: Consumer Confidence, Business Tendency Survey, Public Finance (Mar)
- Spain: Mortgage Market (Jan), Order Book Forecast (Mar)
- Italy: ISTAT Business & Consumer Survey Press Release (Mar)
- Germany: Business Registrations & Deregistrations (Dec), Import & Export Prices (Feb), IAB Labor Market Barometer (Mar)
- Vietnam: GDP (Q1), CPI, IP, International Trade, Passenger & Cargo Traffic Statistics, Manufacturing Sales and Inventories, International Visitor Arrivals (Mar); Korea: Economic Sentiment
- more updates...
Economy in Brief
U.S. Energy Product Prices Remain Under Pressure
Regular gasoline prices held steady at $2.32 per gallon last week (12.1% y/y) for the third straight week...
German Federal Debt Levels Fall
German debt level fell outright in Q4 2016 as the ratio of federal debt-to-GDP also fell...
NABE 2018 Forecast: Modest Improvement in Economic Growth & Higher Inflation
The NABE expects 2.5% real U.S. economic growth in 2018 compared to 2.3% forecast for 2017...
Texas Factory Sector Activity Remains Strong
The Dallas Fed indicated in its Texas Manufacturing Outlook Survey that the General Business Activity Index eased during March...
EMU Money and Credit Growth Are Less Than Impressive Than Euro-PMIs
EMU nominal money supply growth is slightly higher over three months, but credit growth in the EMU is slower...
Durable Goods Orders Strengthened by Another Jump in Aircraft
New orders for durable goods rose 1.7% (5.0% y/y) during February...
by Tom Moeller February 29, 2016
The National Association of Realtors (NAR) reported that pending sales of single-family homes declined 2.5% in January (+1.4% y/y) following December's revised 0.9% improvement, which was initially reported as 0.1%. The January sales volume was 4.7% below the peak nine months ago. Expectations, according to a Wall Street Journal survey, were for an increase of 0.5%. These sales are reported as an index with 2001=100. The January value of 106.8 was 37.5% higher than the June 2010 low.
Regionally, January sales generally declined. Sales in the Midwest were off 4.9% after a 0.5% gain while sales in the West fell 4.5%, down for the third straight month. Sales in the Northeast declined 3.2%, but were 10.9% improved from twelve months earlier, and sales in the South edged 0.3% higher (-1.3% y/y).
The pending home sales figures are analogous to the new home sales data from the Census Bureau. 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)||Jan||Dec||Nov||Jan Y/Y||2015||2014||2013|