- Kazakhstan: GDP by Income, Labor Productivity Index (Q4), Loans & Deposits, Monetary Aggregates, Banking System Surveys (Mar)
- Japan: Index of Business Conditions (Feb-Final), Electric Power Generated (Jan)
- Spain: Services Sector Activity, New Orders and Turnovers (Feb)
- Finland: PPI, Domestic Supply Prices (Mar)
- US: NABE Business Conditions Survey (Q1)
- Indonesia: Non-Oil and Gas Trade (Feb); Taiwan: Labor Market (Mar)
- more updates...
Economy in Brief
Fresh Six-Year PMI Highs for Euro Area
The 'fresh six-year high' is a pleasant surprise that continues, but...
Philadelphia Fed Factory Conditions Soften
The Philadelphia Fed reported that its General Factory Sector Business Conditions Index fell to 22.0 during April...
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 20, 2016
Sales of existing homes increased 5.1% (1.5% y/y) to 5.330 million (SAAR) during March from 5.070 million in February, revised from 5.080 million. The gain followed February's 7.3% decline and extended a pattern of volatile sideways movement since last spring. It outpaced the improvement to 5.24 million sales expected in the Action Economics Forecast Survey. Existing single-family home sales rose 5.5% (2.6% y/y) following a 7.2% decline.
The median price of a previously owned home increased 5.7% y/y to $222,700 from an upwardly revised $212,100. The average price of an existing home increased 5.8% y/y to $224,300.
Home sales were strongest last month in the Northeast where they posted an 11.1% gain (7.7% y/y) to 700,000. That rise was followed by a 9.8% increase (0.8% y/y) in the Midwest to 1.230 million. Previously owned home sales in the South followed with a 2.7% gain (2.3% y/y) to 2.250 million. Sales in the West gained 1.8% (-2.5% y/y) to 1.150 million.
The number of existing homes on the market declined 1.5% y/y, and the months' supply of homes rose to 4.5, about where it's been for three years.
The data on existing home sales, prices and affordability can be found in Haver's USECON database. The regional price, affordability and inventory data are available in the REALTOR database. The expectations figure is from the Action Economics Forecast Survey, reported in the AS1REPNA database.
Savings after Retirement: A Survey from the Federal Reserve Bank of Chicago can be found here.
|Existing Home Sales (SAAR, 000s)||Mar||Feb||Jan||Y/Y %||2015||2014||2013|
|Median Price Total ($, NSA)||222,700||212,100||213,700||5.7||219,867||206,708||195,667|