- 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 November 23, 2016
Sales of new single-family homes during October declined 1.9% (+17.8% y/y) to 563,000 (AR) from 574,000 sales in September, revised from 593,000. Sales of 590,000 had been expected in the Action Economics Forecast Survey. The decline left sales 9.5% below the July peak.
The median price of a new home fell 3.1% last month (+1.9% y/y) to $304,500 from $314,100 in September, revised from $313,000. The average price of a new home declined 2.5% (-3.3% y/y) to $354,900 following a 1.4% rise.
Last month's decline in new home sales was led by a 13.7% decline (+8.6% y/y) in sales in the Midwest to 63,000. In the Northeast sales fell 9.1% (-6.3% y/y) to 30,000 and new home sales in the South were off 3.0% to 322,000 (+17.9% y/y). To the upside were sales in the West where an 8.8% increase to 148,000 left them 28.7% higher than 12 months earlier.
The months' supply of homes at the current sales rate increased to 5.2, up from July's 4.6 rate. That was below, however, the high of 5.8 months in September of last year. The median number of months a new home was on the market declined to 3.0 (NSA), the lowest level since December.
Longer-Term Challenges for the U.S. Economy is the title of Fed Vice Chairman Stanley Fischer's speech and it can be found here.
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)||Oct||Sep||Aug||Oct Y/Y %||2015||2014||2013|
|Median Price (NSA, $)||304,500||314,100||299,600||1.9||297,258||283,775||265,092|