- 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 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|