Tag Archives: housing market
New home sales dropped unexpectedly to a 384,000-unit pace in March from a 449,000-unit pace in February. Sales plunged the most in the Midwest and South,
Two housing price measures were released today: the FHFA index on purchase prices for February and the National Association of Realtors (NAR) calculation for median existing home prices in March. Both indices showed that home prices continued to rise in the first quarter, and regain ground lost to the Great Recession.
Existing home sales were almost unchanged between March and February, which should come as no surprise to those who have been watching the lackluster demand for mortgages since the start of the year. Sales are off almost 15% on a seasonally adjusted basis from the high they hit last July when everyone was scrambling to [...]
Housing starts rose to a 946,000-unit pace in March, after being revised up slightly for the month of February. With revisions, starts are running close to expectations although they should be stronger given the lack of inventories on the market. That said, it was encouraging to see the gain in starts concentrated in the single-family [...]
The Consumer Price Index (CPI) rose 0.2% in March from February, well in-line with expectations and was up 1.5% from a year ago, a little hotter than we saw just a month ago. The portions of the country that escaped the polar vortex suffered a drought, which is pushing up feed prices. In response, prices [...]
New single-family home sales dropped 3.3% in February to a 440,000-unit annualized rate, the slowest monthly pace since September 2013. Moreover, sales for the month of January were revised lower. More of the weakness in the new home market can be attributed to unusually harsh winter weather; builders in the worst-affected areas were literally sidelined,
Existing home sales remained depressed in February, falling an additional 0.4% to a 4.6 million-unit annualized rate. That is the lowest pace for sales since July 2012. The National Association of Realtors (NAR), which typically attempts to put a positive spin on the data, punted and acknowledged that harsh winter weather could only account for [...]
The Consumer Price Index (CPI) rose a tepid 0.1% in February from the month prior; a sharp drop in energy prices almost entirely offset a jump in food prices, largely in response to a drought affecting parts of the country that escaped the polar vortex.
New home sales jumped to a 468,000 unit rate in January, up nearly 10 percent compared to December. That was the strongest pace in more than five years. Moreover, the December data were revised up. Home builders have moved back upscale; that is reflected in the median price of new homes, which was $260,100 in [...]
Existing home sales dropped to an annualized rate of 4.62 million units in January, the slowest pace in more than a year. Realtors found much to complain about in January; unusually harsh winter weather was only one of many issues blamed for the weakness; they also listed higher home prices, tight housing inventories and flood [...]