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Economy in Brief
Wholesale Inventories Grow While Sales Decline
Wholesale inventories increased 0.8% month-on-month (6.9% year-over-year) during October...
U.S. Consumer Credit Usage Expands
Consumer credit outstanding increased $25.38 billion during October...
German IP Takes Surprising October Slip
Germany's industrial production slowed to a gain of only 0.1% in September then dropped by 0.5% in October...
U.S. Trade Deficit Widens to 10-Year High; Record Goods Shortfall
The U.S. trade deficit in goods and services widened for the fifth consecutive month to $55.49 billion in October...
U.S. ADP Private Sector Payroll Growth Eases
The ADP National Employment Report indicated that private nonfarm payrolls increased 179,000 during November...
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 |
