Category Archives: David Nice

Key Factors in New Home Sales Weakness

As discussed in this morning’s Economic Alert by Chief Economist Diane Swonk, new home sales continue to lag expectations. June’s estimate came in 69,000 units under the consensus estimate. The lackluster recovery in new home sales should be cause for concern, in terms of the housing recovery and for the overall economy. There are many [...]

Unemployment Claims Trending Lower

Initial unemployment claims dropped 20,000 to a level of 331,000 for the week of February 1. Claims have been trending down from a recent high of 380,000 reached in the week of December 14. The latest move down is a positive sign for Friday’s jobs report, which will provide January data. We expect a stronger [...]

Home Sales Lose Steam in December

Existing-home sales at the end of the year were lackluster; on the national level, sales increased 1.0% in December. Regionally, sales activity picked up in the South and West, but fell in the Midwest and Northeast. Cash purchasers and individual investors still comprised a large proportion of overall sales, 32% and 21%, respectively. These numbers [...]