From the monthly archives:
We just got data on new home sales for June. Here’s what the figures looked like:
* New home sales rose 23.6% to a seasonally adjusted annual rate of 330,000. That topped the average estimate of 310,000 units. Sounds like a big rise … until you see that the previous month’s sales were revised sharply lower [...]
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We just received existing home sales data for June. Here’s what the numbers looked like:
* Existing home sales fell 5.1% to a seasonally adjusted annual rate of 5.37 million in June from 5.66 million in May. That was moderately better than forecasts for a sales rate of 5.1 million.
* Regionally, sales fell in the majority [...]
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Housing starts figures for June were just released. Here’s what they looked like …
Housing starts dropped 5% to a seasonally adjusted annual rate of 549,000 from 578,000 in May. That’s also down 5.8% from 583,000 in the year-ago month, and it leaves starts at their lowest level since October. Single family starts slipped 0.7% from [...]
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The National Association of Home Builders just released its latest read on the housing market. The group’s housing market index slumped to 14 in July from 16 in June. That’s the lowest reading since April 2009 and worse than the average economist forecast of 16.
The subindex measuring present sales dropped to 15 from 17, while [...]
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We just got the latest payroll figures for June. They look weak, though not ridiculously so. Some of the details? Employment dropped 125,000 overall, roughly in line with the forecast of -130,000. That includes a huge drop in temporary Census workers. If you strip that out, you get an 83,000 increase in private sector jobs, [...]
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May pending home sales were a disaster. Pending sales of used homes plunged 30% from April, compared with the 14.2% decline economists were expecting. Sales tanked across the board, with a 20.9% decline in the West, a 31.6% drop in the Northeast, a 32.1% decline in the Midwest, and a 33.3% fall in the South. [...]
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