- 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 Sandy Batten December 28, 2016
The National Association of Realtors (NAR) reported that pending home sales fell 2.5% m/m (-0.4% y/y) in November after having edged up only 0.1% (not revised) in October. These sales are reported as an index with 2001=100. The November reading of 107.3 was 6.7% below the April peak, but 39.2% above the June 2010 low. The NAR noted that the recent rise in mortgage rates and the continued lack of inventory were likely the primary factors behind the November decline.
Pending sales were generally weak last month across the country. They edged up 0.6% m/m (5.7% y/y) in the Northeast, but fell both monthly and yearly in the other three regions. Pending sales declined 2.5% m/m (-2.4% y/y) in the Midwest, fell 1.2% m/m (-1.3% y/y) in the South, and plunged 6.7% m/m (-1.0% y/y) in the West.
The pending home sales index is constructed to be analogous to the new home sales data from the Census Bureau. It measures home sales when the sales contract is signed, as are new home sales. In contrast, existing home sales are recorded when the sale is closed. In developing the pending home sales index, the NAR found that the level of monthly sales contract activity parallels the level of closed existing home sales in the following two months. The series dates back to 2001, and the data are available in Haver's PREALTOR database.
|Pending Home Sales (%, SA)||Nov||Oct||Sep||Nov Y/Y||2015||2014||2013|