- 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 October 20, 2016
Sales of existing homes increased 3.2% (0.6% y/y) in September to 5.470 million units (AR) following a 1.5% decline to 5.300 million in August, revised from 5.330 million. Expectations had been for 5.32 million sales in the Action Economics Forecast Survey. Sales of existing single-family homes improved 4.1% last month (0.6% y/y) to 4.860 million following two months of decline. Sales of condos & co-ops declined 3.2% (0.0% y/y) to 610,000 after a 10.5% increase. The figures are reported by the National Association of Realtors.
The median price of all previously owned homes declined 2.4% (+5.6% y/y) to $234,200 from a downwardly revised $239,900. 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 fell to $276,200 (+4.2% y/y).
Improvement in sales was reported around the country. Sales rose 5.7% (0.0% y/y) in the Northeast to 740,000. In the West, sales increased 5.0% (1.6% y/y) to 1.250 million. Sales gained 3.9% in the Midwest (2.3% y/y) to 1.320 million, and sales in the South improved 0.9% (-0.9% y/y) to 2.260 million.
The total inventory of homes on the market declined 6.8% y/y to 2.040 million. The months' sales supply of homes ticked lower to 4.5, down from 4.8 months during all of last year and 5.2 months in 2014.
The data on existing home sales, prices and affordability can be found in Haver's USECON database. The regional price, affordability and inventory data are available in the REALTOR database. The expectations figure is from the Action Economics Forecast Survey, reported in the AS1REPNA database.
|Existing Home Sales (SAAR, 000s)||Sep||Aug||Jul||Y/Y %||2015||2014||2013|
|Median Price Total ($, NSA)||234,200||239,900||243,300||5.6||219,867||206,708||195,667|