- Korea: GDP (Q4); Thailand Auto Sales (Feb)
- Turkey: Capacity Utilization, Business Tendency survey (Mar); South Africa: Tourism & Migration (Jan), Manufacturing Survey (Q1)
- Croatia: Tourism (Jan); Montenegro: Foreign Trade (Feb); Czech Republic: CPI by COICOP (Feb), Registered Employment (Q4); Kazakhstan: Loans & Deposits (Feb); Slovenia: Business Cycle Indicators (Mar); Russia: Employment by Industry (Q4);
- 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 June 29, 2016
The National Association of Realtors (NAR) reported that pending home sales declined 3.7% (-0.2% y/y) during May following a 3.9% rise in April, revised from 5.1%. These sales are reported as an index with 2001=100. The May value of 110.8 was 43.7% higher than the June 2010 low.
Sales declined last month throughout the country. They were off 5.3% in the Northeast after a 1.2% rise, and were unchanged y/y. In the Midwest, sales declined 4.2% (-1.8% y/y) following a 0.8% slip. Sales in the West fell 3.4% (-0.1% y/y) after a 11.4% rise while sales in the South declined 3.1% (+0.6% y/y) after a 4,1% increase.
The pending home sales figures are analogous to the new home sales data from the Census Bureau. They measure home sales when the sales contract is signed, not at the time the sale is closed. In developing the model for the index, the NAR demonstrated that the level of monthly sales contract activity parallels the level of closed existing home sales in the following two months. The series dates back to 2001 and the data are available in Haver's PREALTOR database.
|Pending Home Sales (%, SA)||May||Apr||Mar||May Y/Y||2015||2014||2013|