- New Zealand: International Trade (Feb)
- Korea: Consumer Survey Index (Mar); Philippines: Public Finance (Jan)
- Weekly: **Initial Claims Data Revisions Completed**
- Euro area: Flash Consumer Confidence Indicator (Mar)
- US: New Residential Sales (Feb)
- Belgium: Business Survey (Mar)
- Uruguay: GDP (Q4)
- more updates...
Economy in Brief
Kansas City Federal Reserve Factory Index Strengthens; Expectations Surge
The Kansas City Fed reported that its index of regional manufacturing sector business activity increased to 20 during March...
U.S. Initial Unemployment Insurance Claims Rise
Initial claims for unemployment insurance increased to 258,000 (-3.0% y/y) during the week ended March 18...
U.K. Retail Looks Less Bulletproof
For the most part, the assessments embodied in the March survey from the UK's CBI are being taken as being upbeat...
U.S. Existing Home Sales Fall to Five-Month Low; Inventory Remains Tight
Sales of existing single-family homes declined 3.7% (+5.4% y/y) to 5.480 million units (AR) during February...
U.S. FHFA House Price Index Momentum Diminishes
The FHFA U.S. house price index remained unchanged during January following a 0.4% December increase ...
Japan's Trade Trends Turn Sharply Higher
Japan has logged its largest current account surplus since April 2010...
by Tom Moeller July 26, 2016
Housing market improvement continued during June. Sales of new single-family homes increased 3.5% (25.4% y/y) to 592,000 (SAAR) from 572,000 in May, revised from 551,000. Sales of 557,000 had been expected in the Action Economics Forecast Survey.
The median price of a new home recovered 6.2% to $306,00 (6.1% y/y) following May's 9.8% decline. The average price of a new home increased 1.9% to $358,200 (8.8% y/y).
The decline in new home sales was paced by a 5.6% drop in the Northeast to 34,000 (30.8% y/y) which added to the prior month's decline. Sales in the South eased 0.3% (+21.1% y/y) to 321,000 following three months of firm increase. Countering these declines was a 10.9% increase (24.6% y/y) in the West to 152,000 which recouped the prior month's decline. Sales in the Midwest also firmed 10.4% (44.1% y/y) to 85,000 which added to May's m/m rise by roughly one quarter.
The months' supply of homes at the current sales rate declined to 4.9, the lowest level since February of last year. The median number of months a new home was on the market eased to 3.8 (NSA).
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.
|U.S. New Single-Family Home Sales (SAAR, 000s)||Jun||May||Apr||Y/Y %||2015||2014||2013|
|Median Price (NSA, $)||306,700||288,800||320,000||6.1||297,258||283,775||265,092|