- US: Advance Trade & Inventories (Feb)
- Sweden: Retail Trade, PPI, International Trade (Feb); Iceland: CPI (Mar)
- Turkey: International Reserves (Feb); Mauritius: Wage Rate Index, LFS (Q4); Saudi Arabia: Non-Oil Foreign Trade (Jan); Palestine: BOP (Q4); UAE: Fuel Prices (Apr); Israel: Construction Starts & Completions (Q4); South Africa: Construction Survey (Q1); Tanzania: Trade (Q4)
- Brazil: PPI (Feb)
- more updates...
Economy in Brief
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...
Correction to Unemployment Insurance Weekly Claims
The Department of Labor has issued a correction to yesterday's annual revision to seasonally adjusted weekly unemployment claims...
EMU PMIs Are Off to the Races...Farewell Mediocrity?
The PMI rankings for the manufacturing and service sector PMIs in the EMU are suddenly off the chart...
U.S. New Home Sales Improve While Prices Decline
Sales of new single-family homes increased 6.1% (12.8% y/y) during February to 592,000 units (AR)...
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|