- 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 July 21, 2016
Sales of existing homes rose 1.1% (3.0% y/y) during June to 5.570 million (AR) after a May increase to 5.510 million, revised from 5.530 million. The latest level was the highest since February 2007. It surpassed expectations for 5.47 million sales in the Action Economics Forecast Survey. Sales of existing single-family homes gained 0.8% last month (3.1% y/y) to 4.920 million. Sales of condos & cops rose 3.2% (1.6% y/y) to 650,000.
The median price of all previously owned homes increased 3.7% to $247,700 (4.8% y/y) from $238,900. Annualized growth in prices has been roughly steady for the past two years, but falls short of the double-digit increases in 2013. The average price of an existing home improved 4.0% to $292,100 (4.2% y/y).
Home sales were strongest last month in the Midwest where they rose 3.8% (4.7% y/y) to 1.350 million. Home sales in the West increased 1.7% (-0.8% y/y) to 1.200 million. In the South, sales remained unchanged (3.2% y/y) at 2.260, and in the Northeast sales declined 1.3% (+5.6% y/y) to 760,000.
The number of existing homes on the market declined 5.8% y/y, and the months' supply of homes eased to 4.6, about where it's been for three years.
The data on existing home sales, prices and affordability can be found in Haver's USECON database. The regional price, affordability and inventory data are available in the REALTOR database. The expectations figure is from the Action Economics Forecast Survey, reported in the AS1REPNA database.
|Existing Home Sales (SAAR, 000s)||Jun||May||Apr||Y/Y %||2015||2014||2013|
|Median Price Total ($, NSA)||247,700||238,900||230,900||4.8||219,867||206,708||195,667|