- 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 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|