Category Archives: David Nice

Housing Starts Snap Back in April

Housing starts snapped back in April after dismal reports for February and March. Total starts last month grew at a 1.14 million-unit, annualized pace on top of an upward revision to the previous month. Gains were led by the Northeast region

New Home Sales Slow

In March, new home sales slowed to a 481,000-unit rate after a surprisingly strong February, which was revised even higher to a 543,000-unit pace. That slowdown may seem discouraging but some giveback after the pop in February was expected. More interestingly, the median sales price of new homes actually contracted 1.7% on a year-over-year basis. [...]

Bending the health care cost curve over 15 years

My favorite chart from this morning’s CPI release

Consumer Prices in Line with Expectations

The headline numbers in the Consumer Price Index (CPI) rose 0.2% in March, buoyed by higher energy prices, mainly motor fuel, which rose 3.9% in March.

Housing Starts Disappoint Again

Housing starts for March came in below expectations, adding only 926,000. Even though the data improved from last month, it did not rebound as strongly as many hoped. February data were revised up but only by 11,000 to 908,000. Single-family starts were much the same, adding only 618,000, which is only 26,000 higher than February. [...]

Consumers Paid Off Holiday Debt Early in 2015

Consumers took advantage of lower gas prices, paying off their holiday debt a month sooner. In the previous two years, consumers had taken until March to pay off holiday purchases on their credit cards. Earlier in the cycle, when the economy was weaker, it was not until April that consumers paid off their balances from holiday [...]

Existing Home Sales Remain Lackluster, Prices Continue to Rise

In February, existing home sales rose to a seasonally adjusted rate of 4.88 million units. Sales were only 60,000 units above last month’s pace, but are 220,000 units where we were last year. Sales fell in the Northeast as individuals were snowbound by record high snowfall. The West led with an increase of 60,000 units

Cold Weather Hammers Housing Starts

Total housing starts for February dropped to 897,000 on an annualized basis to levels not seen since September 2013. Severe winter weather played a significant role in the drop. All regions posted declines. The Northeast and Midwest posted the worst, dropping 61,000 and 57,000 respectively from last month. On a percentage basis, these declines were [...]

Existing Home Sales Below Expectations

The number of existing homes sold in January was 4.82 million on an annualized basis. That is the lowest level since May of 2014. All regions were down, led by the Northeast and West. Weather played a role in restricting the number of sales across the nation, but cannot be blamed for all of the weakness in [...]