New Home Sales Rose

December 27, 2002

By Tom Moeller

· Sales of new single family homes were slightly stronger than expected last month. Sales rose 5.7% from October when sales were revised up slightly. Consensus expectations were for a 1.000 Mil. sales rate.

· Sales were mixed across the country’s regions. In the Midwest, sales rose 41.2% m/m following two months of decline. Sales in the South also rose moderately following two down months. In the Northeast, sales fell 26.7% following a 36.8% October drop. In the West, sales fell 3.9% but remained near the record.

· The median price of a new home fell 6.5% to $167,300 (-0.5% y/y).  

· The new home sales data reflect current sales versus the existing home sale figures which reflect closings on past sales. 

 
Homes Sales (000s, AR)

Nov

Oct

Y/Y

2001

2000

1999
New Single-Family 1,069 1,011 14.0% 908 880 879

Help Wanted Advertising Stayed Low

December 27, 2002

By Tom Moeller

 · The Conference Board's National Index of Help-Wanted Advertising in November remained at the lowest level since 1964.

 · The proportion of labor markets with rising want-ad volume improved somewhat to 47% from 24% in October.

· Job opportunities remained weak in most regions of the country, but were strongest in the South.

· During the last five years there has been a 74% correlation between the level of help-wanted advertising and the monthly change in nonfarm payrolls. The correlation with the y/y change in employment has been 98%.

·The figures are seasonally adjusted.

· For analysis of recent trends in unemployment duration by the San Francisco Federal Reserve, click here

 

 

 

  
Conference Board

Nov

Oct

Nov '01
National Help Wanted Index 40 40 45

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