- US: Advance Durable Goods, Advance Trade & Inventories (Mar)
- Canada: Payroll Employment, Earnings, & Hours (Feb)
- Spain: Advanced HICP & CPI, Construction Business Survey Press (Apr)
- Belgium: CPI (Apr)
- Brazil: PPI (Mar)
- Germany: GfK Consumer Climate Survey, State CPI: Bavaria, Saxony, Berlin, Hesse, North Rhine-Westphalia, Brandenburg (Apr)
- Building Permits (Feb)
- UK: Motor Vehicle Production (Mar)
- 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 December 21, 2016
The housing market remains firm. Sales of existing homes improved 0.7% (15.4% y/y) during November to 5.610 million units (AR) from 5.570 million in October, revised from 5.600 million. The latest level was the highest since February 2007. Expectations had been for 5.54 million purchases in the Action Economics Forecast Survey. Sales of existing single-family homes eased 0.4% last month (+16.2% y/y) to 4.950 million following a 1.8% increase. Sales of condos & co-ops jumped 10.0% both m/m and y/y to 600,000 following a 1.6% decline. The figures are reported by the National Association of Realtors.
The median price of all previously owned homes improved 0.3% to $234,900. Annualized price growth of 6.8% 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 rose to $236,500 (6.8% y/y).
Sales performance was mixed around the country last month. Home sales in the Northeast increased 8.0% (15.7% y/y) to 810,000. In the South, sales improved 1.4% (11.6% y/y) to 2.220 million. To the downside were sales in the Midwest by 2.2% (+18.8% y/y) to 1.330 million. Sales in the West declined 1.6% (+19.0% y/y).
The total inventory of homes on the market declined 9.3% y/y to 1.850 million. The months' sales supply of homes fell to 4.0, down from 4.8 months during all of last year and 5.2 months in 2014.
The data on existing home sales, prices and affordability can be found in Haver's USECON database. The regional price, affordability and inventory data are available in the REALTOR database. The expectations figure is from the Action Economics Forecast Survey, reported in the AS1REPNA database.
|Existing Home Sales (SAAR, 000s)||Nov||Oct||Sep||Y/Y %||2015||2014||2013|
|Median Price Total ($, NSA)||234,900||234,100||235,300||6.8||219,867||206,708||195,667|