- 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 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|