Category Archives: David Nice

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 [...]

Housing Starts Weak in January

Housings starts came in weaker with 22,000 fewer starts in January compared to the previous month for a total of 1.065 million on an annualized basis. The data was slightly below consensus.

Durable Goods Orders Decline

Durable goods orders unexpectedly dropped 3.4% in December following data revised downward for November; that marks the fourth decline in five months. Headline data were weighed down again by transportation equipment, which has been struggling in recent months.  Even the new orders ex-transportation show a decline of 0.8%. Looking at core capital goods (the best indicator [...]

Existing Home Sales Top Five Million for 2014

Just over five million existing homes were sold in December, in line with expectations. December sales came in higher than November’s, which were revised down slightly. Comparisons for sales and prices were positive as total and single-family sales increased

Housing Starts Bounced Back in December

Housing starts beat expectations, increasing by 46,000 in December from upwardly revised November data. Better weather last month, following an unseasonably cold November, helped overall starts to rebound. Starts in the South, which were hit hardest in November by cold temperatures, came back in December and posted a 41,000 increase.

Personal Incomes and Outlays, Home Prices Strong

Personal Incomes and Outlays Personal income and expenditures both gained in November, with incomes growing 0.4% and expenditures up 0.6% after both were revised up in October. The Personal Consumption Expenditures (PCE) price index decreased 0.2%, while core PCE increased less than 0.1%. That price movement bodes well for consumers this holiday season as shoppers [...]

Existing Home Sales Disappoint

Total existing home sales disappointed in November, dropping 320,000 from October to an annualized level of 4.93 million. Weakness showed up  across the board

Housing Starts Data Better than Headline

Headline housing starts fell 17,000 in November from an upwardly revised figure in October. October’s revision of +36,000 was large enough to eclipse November’s decline;

Existing Home Sales Highest Since September 2013

Existing home sales handily beat expectations in October, coming in at a 5.26 million-unit annualized rate. September data were also revised to the upside. Regionally, strength was broad-based as three of the four regions showed month-to-month increases mostly concentrated in the Midwest and the South. In the Midwest, investors continue to scoop up properties to [...]

Single-family Starts Move Higher

Single-family housing starts accounted for 696,000 starts, up 28,000 from September. That, coupled with the fact that the revision brought September’s total into the black by 27,000 bodes well for the economy; single-family homes stimulate much more economic activity than multifamily rental units. On the flipside, multifamily starts came in at 313,000 for October, 57,000 [...]