- Korea: Housing Price Index (Apr)
- US: Consumer Sentiment (Apr-final), GDP (Q1 Adv), ECI (Q1)
- Consumer Sentiment Detail (Apr-final)
- US: Selected NIPA Tables (Q1-Adv), Summary key Source Data (Q1)
- Canada: GDP by Industry (Feb), Industrial Product Prices (Mar)
- *Taiwan National House Price Indexes Rebased to 2016=100.*
- Euro area: HICP (Apr-Flash), ECB Survey of Professional Forecasters (Q2)
- Italy: CPI, HICP (Apr-Prelim)
- Brazil: Sao Paolo Capacity Utilization (Mar);Mexico: Debt (Mar);
- more updates...
Economy in Brief
U.S. Employment Cost Index Has Stronger Gain
Lifted by outsized rises in several industries, the employment cost index for civilian workers rose 0.8% (2.4% y/y) during Q1'17...
Chicago Purchasing Managers Index Strengthens
The Chicago Purchasing Managers Business Barometer Index for April increased to 58.3 from 57.7 in March...
EMU Money and Credit Perk Up
There is some noticeable acceleration in EMU money and credit growth...
Durable Goods Orders Improvement Moderates
New orders for durable goods rose 0.7% (4.5% y/y) during March...
U.S. Initial Claims for Unemployment Insurance Increase
Initial unemployment claims for unemployment insurance rose to 257,000 during the week ended April 22...
U.S. Pending Home Sales Ease
The National Association of Realtors (NAR) reported that pending home sales slipped 0.8% ((+0.8% y/y) during March...
by Tom Moeller August 23, 2016
Sales of new single-family homes increased 12.4% (31.3% y/y) to 654,000 (SAAR) during July from 582,000 in June, revised from 592,000. It was the highest level of sales since October 2007. Sales of 580,000 had been expected in the Action Economics Forecast Survey.
The median price of a new home declined 5.1% to $294,600 (-0.5% y/y), the second sharp decline in three months. The average price of a new home improved 0.7% to $355,800 (4.1% y/y).
Last month's rise in new home sales was paced by a 40.0% recovery in the Northeast to 35,000 (25.0% y/y), which reversed nearly all of the declines in the prior two months. Sales in the South jumped 18.1% (39.6% y/y) to 398,000, the highest level since 2007. Sales in the Midwest firmed 1.2% (35.5% y/y) to 84,000, also a nine-year high. Sales in the West remained unchanged (11.4% y/y) at 137,000, down from December's peak of 153,000.
The months' supply of homes at the current sales rate dropped sharply to 4.3, the lowest level since June 2013. The median number of months a new home was on the market declined to 3.7 (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.
How Do People Revise Their Inflation Expectations? from the Federal Reserve Bank of New York is available here.
|U.S. New Single-Family Home Sales (SAAR, 000s)||Jul||Jun||May||Y/Y %||2015||2014||2013|
|Median Price (NSA, $)||294,600||310,500||290,700||-0.5||297,258||283,775||265,092|