- China: Industrial Profits (Mar); Philippines: Tourist Arrivals (Feb); Korea: GDP (Q1)
- New Zealand: Tourism Expenditure, International Reserves, RBNZ Analytical Accounts and Statistical Balance Sheet (Mar); Australia: Import and Export Price Indexes (Q1)
- Japan: Input Output Prices, International Trade, Lease Contracts (Mar), First 10 Days Trade (Apr)
- France: INSEE Household Survey (Apr), Registered Unemployed & Job
- more updates...
Economy in Brief
U.S. Gasoline Prices Are Little-Changed; Crude Oil Falls
Regular gasoline prices of $2.45 per gallon last week (13.3% y/y)...
Japan's METI Indexes Show Ongoing Gains
The services sector is assessed by the METI indexes where it is named the 'tertiary sector.' That sector index rose to 104.1 in February...
U.S. New Home Sales & Prices Strengthen
Sales of new single-family homes increased 5.8% (15.6% y/y) during March to 621,000...
U.S. Consumer Confidence Backpedals
The Conference Board Consumer Confidence Index fell 3.7% during April (+27.0% y/y) to 120.3...
U.S. FHFA House Price Index Regains Strength
The FHFA U.S. house prices increased 0.8% during February (6.5% y/y)...
French Manufacturing and Service Sectors Weaken But Stay on Trend or Hold Recent Gains
The French manufacturing sector trend index is down to 1 in April from 3 in March...
by Tom Moeller November 22, 2016
Sales of existing homes increased 2.0% (5.9% y/y) during October to 5.600 million (AR) after a 3.6% increase to 5.490 million in September, revised up from 5.470 million. The latest level was the highest since February 2007. Expectations had been for 5.45 million purchases in the Action Economics Forecast Survey. Sales of existing single-family homes improved 2.3% last month (6.6% y/y) to 4.990 million following a 4.5% increase. Sales of condos & co-ops remained unchanged both m/m and y/y at 610,000 following a 3.2% decline. The figures are reported by the National Association of Realtors.
The median price of all previously owned homes declined 1.3% to $232,200, the fourth straight month of decline. Annualized price growth of 6.0% 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 $274,300 (+4.4% y/y).
Improvement in sales was reported around the country. Sales in the South improved 2.8% (4.7% y/y) to 2.220 million, while sales gained 2.3% in the Midwest (6.3% y/y) to 1.360 million. Sales rose 1.4% m/m, and 1.4% y/y, in the Northeast to 750,000 and in the West, sales increased 0.8% (10.4% y/y) to 1.270 million.
The total inventory of homes on the market declined 4.3% y/y to 2.020 million. The months' sales supply of homes ticked lower to 4.3, down from 4.8 months during all of last year and 5.2 months in 2014.
The data on existing home sales, prices and affordability can be found in Haver's USECON database. The regional price, affordability and inventory data are available in the REALTOR database. The expectations figure is from the Action Economics Forecast Survey, reported in the AS1REPNA database.
|Existing Home Sales (SAAR, 000s)||Oct||Sep||Aug||Y/Y %||2015||2014||2013|
|Median Price Total ($, NSA)||232,200||235,300||239,900||6.0||219,867||206,708||195,667|