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EMU and Japan; EMU Flash PMIs Make Small Recovery
PMIs in June in the EMU area showed some respite from the steady decline in recent months...
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The French manufacturing sector gives a steady signal in June but at a level that is off-peak...
U.S. Leading Economic Indicators' Rate of Increase Eases
The Conference Board's Composite Index of Leading Economic Indicators improved 0.2% (6.1% y/y) during May...
Philadelphia Fed Factory Conditions Plunge
The Philadelphia Fed reported that its General Factory Sector Business Conditions Index retreated to 19.9 during June...
U.S. FHFA House Price Index Improves Minimally
The FHFA U.S. house price index nudged 0.1% higher (6.4% y/y) during April...
by Tom Moeller February 25, 2005
Sales of existing single family homes fell for the second month and earlier sales estimates were revised down. January sales of 5.94M fell 0.5% from December which fell 2.8% from November. Consensus expectations had been for December sales of 6.75M.
Improved methodology and better modeling led to monthly revisions back through 1999. The figures reflect closings of home sales in earlier months.
Sales were mixed m/m across the country's regions. In the Northeast sales fell 3.7% (+6.8% y/y) and in the Midwest sales fell 5.8% (+9.2% y/y). In the South sales rose 3.0% (+13.3% y/y) and in the West sales ticked 0.7% higher (+17.7% y/y).
The median price of an existing home single family home fell m/m to $186,900 (+9.8% y/y).
The latest release from the National Association of Realtors is available here.
| Existing Home Sales (000, AR) | Jan | Dec | Y/Y | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| Existing Single-Family | 5,940 | 5,970 | 12.5% | 5,913 | 5,441 | 4,995 |
