- Weekly: **Unemployment Initial Claims Data have been revised**
- US: Housing Starts by State and Region (Feb)
- CPB World Trade Monitor (Jan)
- CPB World Trade Monitor (Jan)
- France: Registered Unemployed & Job Vacancies (Feb)
- US: Household Employment for States and Regions (Feb)
- US: Wholesale Trade Revisions, Advance Durable Goods (Feb)
- Manufacturing Survey - Markit US (Flash - Mar), Composite Survey - US (Flash - Mar), Services Survey - US (Flash - Mar)
- more updates...
Economy in Brief
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)...
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...
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|