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Economy in Brief
U.S. Energy Prices Are Mixed
Retail gasoline prices slipped to $2.88 per gallon last week (+24.2% y/y)...
U.S. Home Builder Index Backpedals
The Composite Housing Market Index from the NAHB-Wells Fargo fell 2.9% (+3.0% y/y) to 68 during June ...
Japan's Loses Its Trade Surplus
In May, Japan has logged its second trade deficit in 13 months and only its third in the last 28 months...
U.S. Industrial Production Slips Unexpectedly
The Federal Reserve reported that industrial production eased 0.1% (+3.5% y/y) during May...
Empire State Manufacturing Index Continues to Strengthen
The Empire State Manufacturing Index of General Business Conditions rose to 25.0 during June, the highest level in eight months...
by Tom Moeller June 24, 2005
New single-family home sales in May rose 2.1% m/m to 1.298M. The figure was slightly below the record level reached last October but sales during prior months were revised lower. Consensus estimates had been for sales of 1.32M.
Sales in the Northeast in May gave back all of the prior month's spurt (-28.2% y/y) and sales in the South fell 0.8% (+3.8% y/y), down for the fourth month this year. Sales in the Midwest rose 22.9% (28.2% y/y) to a record high and sales out West rose 1.7% (0.8% y/y).
The median price of a new single family home fell 6.5% to $217,000 (+2.5% y/y), the lowest level since last September.
The figures from the Census Department reflect homes sold.
| Homes Sales (000s, AR) | May | April | Y/Y | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| New Single-Family | 1,298 | 1,271 | 4.4% | 1,200 | 1,091 | 976 |
