- US: IIP (Q4)
- Zambia: BOP (Q4); Israel: Credit Card Purchases (Feb); UAE: CPI (Feb); Saudi Arabia: GDP (Q4-Prelim)
- Hungary: Employment (Feb); Bulgaria: Business Survey (Mar); Kazakhstan: Consolidated Budget (Feb)
- Sweden: Consumer Confidence, Business Tendency Survey, Public Finance (Mar); Iceland: PPI (Feb)
- Spain: Mortgage Market (Jan), Order Book Forecast (Mar)
- Italy: ISTAT Business & Consumer Survey (Mar)
- 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 March 23, 2016
Sales of new single-family homes increased 2.0% to 512,000 (SAAR, -6.1% y/y) during February after a 7.0% decline to 502,000 in January, revised from 494,000. Sales of 510,000 had been expected in the Action Economics Forecast Survey.
The median price of a new home rebounded 6.2% (2.6% y/y) to $301,400 after January's decline to $283,900, revised from $278,800. The average sales price declined 4.0% m/m to $348,900 (-2.0% y/y).
By region, there was considerable variation in sales m/m. Home sales in the West jumped 38.5% (10.2% y/y) to 151,000 following January's 32.7% decline. To the downside, sales in the Northeast declined 24.2% (-3.8% y/y) to 25,000, and reversed most of the prior month's gain. Sales in the Midwest fell 17.9% (+1.9% y/y) to 55,000 after a 4.3% decline. In the South, sales fell 4.1% (-14.3% y/y) to 281,000, negating January's improvement.
The inventory of unsold homes increased 17.6% y/y and there was a 5.6 months supply at the current sales rate. That figure was up from a low of 4.0 months in January 2013. The number of months a new home was on the market increased slightly to 3.8 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.
Job Gains Remain Strong, Inflation Improves from the Federal Reserve Bank of Dallas can be found here.
|U.S. New Single-Family Home Sales (SAAR, 000s)||Feb||Jan||Dec||Y/Y %||2015||2014||2013|
|Median Price (NSA, $)||301,400||283,900||297,000||2.6||294,575||283,775||265,092|