- China: Industrial Profits (Mar); Philippines: Tourist Arrivals (Feb); Korea: GDP (Q1)
- New Zealand: Tourism Expenditure, International Reserves, RBNZ Analytical Accounts and Statistical Balance Sheet (Mar); Australia: Import and Export Price Indexes (Q1)
- Japan: Input Output Prices, International Trade, Lease Contracts (Mar), First 10 Days Trade (Apr)
- France: INSEE Household Survey (Apr), Registered Unemployed & Job
- 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 January 24, 2017
During all of 2016, sales of existing homes increased 3.8% to 5.452 million, the highest level since 2006, when sales reached 6.478 million. During December alone, however, sales eased 2.8% (+0.7% y/y) to 5.490 million units (AR) from 5.650 million in November, revised up from 5.610 million. Expectations had been for 5.530 million purchases in the Action Economics Forecast Survey. Sales of existing single-family homes fell 1.8% last month (+1.5% y/y) to 4.880 million following no change in November. Sales of condos & co-ops retreated 10.3% (-4.7% y/y) to 610,000 following a 13.3% increase. The figures are reported by the National Association of Realtors.
The median price of all previously owned homes improved 4.0% versus December 2015 to $232,200. The average price of an existing home rose to $274,000 (3.0% y/y).
Sales performance was mixed around the country last month. Home sales in the Northeast declined 2.8% (+2.7% y/y) to 760,000. Sales in the Midwest were off 3.8% (+2.4% y/y) to 1.280 million. Sales in the West declined 4.8% (-1.6% y/y) to 1.200 million. In the South, sales were unchanged (11.6% y/y) at 2.250 million.
The total inventory of homes on the market declined 6.3% y/y to 1.650 million. The months' sales supply of homes fell to 3.6, the lowest point since January 2005.
The data on existing home sales, prices and affordability can be found in Haver's USECON database. The regional price, affordability and inventory data are available in the REALTOR database. The expectations figure is from the Action Economics Forecast Survey, reported in the AS1REPNA database.
|Existing Home Sales (SAAR, 000s)||Dec||Nov||Oct||Y/Y %||2016||2015||2014|
|Median Price Total ($, NSA)||232,200||234,400||234,100||4.0||231,992||219,867||206,708|