- China: Industrial Profits (Mar); Philippines: Tourist Arrivals (Feb); Korea: GDP (Q1)
- New Zealand: Tourism Expenditure, International Reserves, RBNZ Analytical Accounts and Statistical Balance Sheet (Mar); Australia: Import and Export Price Indexes (Q1)
- Japan: Input Output Prices, International Trade, Lease Contracts (Mar), First 10 Days Trade (Apr)
- France: INSEE Household Survey (Apr), Registered Unemployed & Job
- more updates...
Economy in Brief
U.S. Gasoline Prices Are Little-Changed; Crude Oil Falls
Regular gasoline prices of $2.45 per gallon last week (13.3% y/y)...
Japan's METI Indexes Show Ongoing Gains
The services sector is assessed by the METI indexes where it is named the 'tertiary sector.' That sector index rose to 104.1 in February...
U.S. New Home Sales & Prices Strengthen
Sales of new single-family homes increased 5.8% (15.6% y/y) during March to 621,000...
U.S. Consumer Confidence Backpedals
The Conference Board Consumer Confidence Index fell 3.7% during April (+27.0% y/y) to 120.3...
U.S. FHFA House Price Index Regains Strength
The FHFA U.S. house prices increased 0.8% during February (6.5% y/y)...
French Manufacturing and Service Sectors Weaken But Stay on Trend or Hold Recent Gains
The French manufacturing sector trend index is down to 1 in April from 3 in March...
by Tom Moeller May 20, 2016
Sales of existing homes increased 1.7% (6.0% y/y) to 5.450 million (SAAR) during April from 5.360 million in March, revised from 5.330 million. Sales have been notably volatile m/m during the past year, but the latest reading was just shy of the high reached during the economic recovery. It remained down sharply, however, versus the record high reached in 2005. The latest result outpaced the improvement to 5.390 million sales expected in the Action Economics Forecast Survey. Existing single-family home sales edged 0.6% higher to 4.810 million (6.2% y/y) last month following a 6.0% rise.
The median price of all previously owned homes increased 5.0% to $232,500 (6.3% y/y) from an downwardly revised $221,500. Annualized growth in prices has been roughly steady for the past two years, but falls short of the double-digit growth in 2013. The average price of an existing home increased 4.0% to $275,000 (4.2% y/y).
Home sales were strongest last month in the Midwest where they posted a 12.1% gain (12.1% y/y) to 1.390 million. That rise was followed by a 2.8% increase (17.5% y/y) in the Northeast to 740,000. Previously owned home sales in the South declined 2.7% (+4.3% y/y) to 2.190 million. Sales in the West eased 1.7% (-3.4% y/y) to 1.130 million.
The number of existing homes on the market declined 3.6% y/y, and the months' supply of homes rose to 4.7, about where it's been for three years.
The data on existing home sales, prices and affordability can be found in Haver's USECON database. The regional price, affordability and inventory data are available in the REALTOR database. The expectations figure is from the Action Economics Forecast Survey, reported in the AS1REPNA database.
|Existing Home Sales (SAAR, 000s)||Apr||Mar||Feb||Y/Y %||2015||2014||2013|
|Median Price Total ($, NSA)||232,500||221,500||212,100||6.3||219,867||206,708||195,667|