- Retail Trade, Household Consumption (Feb), Population (Feb)
- Mauritius: PPI (Feb-Prelim)
- Business Sentiment Survey (Mar)
- Korea: Building Permits (Feb); Philippines: LFS (Q3); Thailand: PPI (Mar-Press)
- Japan: First Ten Days Trade (Mar), International Trade, Real Trade Indexes (Feb)
- New Zealand: Tourism Expenditure, International Reserves, RBNZ Analytical Accounts/Statistical Balance Sheet, Foreign Currency
- more updates...
Economy in Brief
U.S. Mortgage Loan Applications Remain Little Changed; Variable Rate Apps Surge
The MBA total Mortgage Market Volume Index slipped 0.8% last week (-12.4% y/y)...
La Dolce Vita? Italian Confidence Bumps Higher
Italian business and consumer confidence moved higher in March...
U.S. Consumer Confidence Improves Significantly
The Conference Board Consumer Confidence Index for March strengthened 8.2% (30.7% y/y) to 125.6...
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...
by Tom Moeller April 25, 2016
Sales of new single-family homes declined 1.5% during March to 511,000 (SAAR) versus 519,000 in February, revised from 512,000. Despite the decline, sales increased 5.4% y/y. Sales of 520,000 had been expected in the Action Economics Forecast Survey.
The median price of a new home fell 3.2% (NSA) to $288,000 (-1.8% y/y) after February's 5.2% rise to $297,400, revised from $301,400. The average sales price increased 4.1% m/m to $356,200 (+1.0% y/y).
By region, there was considerable variation in sales m/m. Home sales in the West declined 23.6% to 107,000, and more than reversed February's rise. Sales in the Northeast remained unchanged at 26,000 following February's 25.7% decline. To the upside, sales in the Midwest rose 18.5% to 64,000 after February's 20.6% drop, while sales in the South gained 5.0% to 314,000, and made up February's 1.3% decline.
The inventory of unsold homes increased 20.0% y/y and there was a 5.8 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 to 4.1 months, versus a low of 2.9 three months ago.
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.
Savings after Retirement: A Survey from the Federal Reserve Bank of Chicago can be found here.
|U.S. New Single-Family Home Sales (SAAR, 000s)||Mar||Feb||Jan||Y/Y %||2015||2014||2013|
|Median Price (NSA, $)||288,000||297,400||282,600||-1.8||297,258||283,775||265,092|