Category Archives: David Nice
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
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 [...]
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 [...]
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 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 [...]
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 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 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 [...]
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
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;