- Korea: GDP (Q4); Thailand Auto Sales (Feb)
- Turkey: Capacity Utilization, Business Tendency survey (Mar); South Africa: Tourism & Migration (Jan), Manufacturing Survey (Q1)
- Croatia: Tourism (Jan); Montenegro: Foreign Trade (Feb); Czech Republic: CPI by COICOP (Feb), Registered Employment (Q4); Kazakhstan: Loans & Deposits (Feb); Slovenia: Business Cycle Indicators (Mar); Russia: Employment by Industry (Q4);
- more updates...
Economy in Brief
Texas Factory Sector Activity Remains Strong
The Dallas Fed indicated in its Texas Manufacturing Outlook Survey that the General Business Activity Index eased during March...
EMU Money and Credit Growth Are Less Than Impressive Than Euro-PMIs
EMU nominal money supply growth is slightly higher over three months, but credit growth in the EMU is slower...
Durable Goods Orders Strengthened by Another Jump in Aircraft
New orders for durable goods rose 1.7% (5.0% y/y) during February...
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)...
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|