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Economy in Brief
NABE Projects Firm Growth in 2022, as in 2021
The NABE expects 4.0% real GDP growth in 2022 following a 4.8% rise during 2021...
U.S. Construction Spending Strengthens Again in January
Building activity continues to strengthen...
Manufacturing PMIs Are Strengthening More in the Developed World
PMIs largely are improving in February...
U.S. Personal Income & Spending Surge With Stimulus Payments in January
Personal income jumped 10.0% (13.1% y/y) last month...
Chicago Business Barometer Declines Sharply in February
The ISM-Chicago Purchasing Managers Business Barometer fell 4.3 points in February to 59.5...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
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 |