- 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 February 22, 2017
Sales of existing single-family homes increased 3.3% (3.8% y/y) to 5.690 million units (AR) during January following December sales of 5.510 million, revised from 5.490 million. Expectations had been for 5.540 million purchases in the Action Economics Forecast Survey. Sales of existing single-family homes increased 2.6% last month (3.7% y/y) to 5.040 million units following little change during the prior two months. Sales of condos & co-ops rose 8.3% (4.8% y/y) to 650,000 following a 10.4% decline. The figures are reported by the National Association of Realtors.
The median price of all previously owned homes declined 1.9% (+7.1% y/y) versus January to $228,900. The average price of an existing home fell 1.4% to $271,000 (+5.2% y/y).
Sales performance was mixed around the country last month. Home sales in the Northeast increased 5.3% (6.7% y/y) to 800,000. Sales in the Midwest were off 1.5% (-0.8% y/y) to 1.290 million. Sales in the West increased 6.6% (8.4% y/y), also to 1.290 million. In the South, sales gained 3.6% (3.1% y/y) to 2.310 million.
The total inventory of homes on the market declined 7.1% y/y to 1.690 million. The months' sales supply of homes fell to 3.3, the lowest point since June 2004.
The data on existing home sales, prices and affordability can be found in Haver's USECON database. The regional price, affordability and inventory data are available in the REALTOR database. The expectations figure is from the Action Economics Forecast Survey, reported in the AS1REPNA database.
The minutes to the latest FOMC meeting can be found here.
|Existing Home Sales (SAAR, 000s)||Jan||Dec||Nov||Y/Y %||2016||2015||2014|
|Median Price Total ($, NSA)||228,900||233,300||234,400||7.1||232,067||219,867||206,708|