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Economy in Brief
German PPI Rises at Nine-Month High Pace
The German PPI gained 0.2% in June on the heels of a 0.6% rise in May...
U.S. Leading Economic Indicators Improve
The Conference Board's Composite Index of Leading Economic Indicators increased 0.5% (5.8% y/y) during June...
Philadelphia Fed Factory Conditions Recover; Prices Surge
The Philadelphia Fed reported that its General Factory Sector Business Conditions Index rebounded to 25.7 during July...
U.S. Initial Unemployment Insurance Claims Hit Lowest Since 1969
Initial claims for unemployment insurance dropped to 207,000 during the week ended July 14...
Japan's Trade Deficit Swings Back to Surplus (Small Surplus)
Japan's early June trade results show a goods trade position having swung back to surplus in June from deficit in May...
by Tom Moeller July 25, 2005
The median price of an existing single family home jumped 7.3% m/m in June to another record level, $218,600 (14.5% y/y). In just the first six month of this year prices have risen 15.7%.
June sales of existing homes rose 2.7% to a record 7.330M following a slight 0.6% dip in May that was revised shallower, according to the National Association of Realtors. Consensus expectations had been for sales of 7.13M.
The data reflect closings of home sales in earlier months.
Sales of single-family homes more than reversed the prior month's decline and rose 2.4% to 6.370M. Sales were strongest in the West and rose 5.4% (4.0% y/y) while sales in the Northeast rose 2.4% (3.6% y/y). In the Midwest sales rose 2.1% (-0.7% y/y) and in the South sales reversed the decline in May and rose 1.2% (6.0% y/y).
The latest release from the National Association of Realtors is available here.
The Minutes to the latest meeting of the Federal Open Market Committee can be found here.
| Existing Home Sales (000, AR) | June | May | Y/Y | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| Total Home Sales | 7,330 | 7,140 | 4.4% | 6,723 | 6,170 | 5,653 |
| Single Family Home Sales | 6,370 | 6,220 | 3.2% | 5,913 | 5,441 | 4,995 |
