Recent Updates

  • Spain: Cement Statistics (Jun)
  • Switzerland: Real Estate Price Indices (2017), Balance Sheets for All Banks (Nov)
  • Turkey: Non-Domestic PPI (Dec)
  • Estonia: PPI, Export & Import Prices (Dec); Kyrgyz Republic: BOP (Q3), National Bank Balance Sheet, Monetary Aggregates, State Budget (Nov); Kazakhstan: Consolidated Budget (Dec)
  • Norway: Business Tendency Survey, Capacity Utilization (Q4)
  • Thailand: International Trade Press (Dec); Taiwan: Approved
  • more updates...

Economy in Brief

U.S. Existing Home Sales Decline As Expected
by Tom Moeller May 25, 2006

The National Association of Realtors reported that April total existing home sales declined 2.0% m/m to 6.760M following little change in March that was little revised. The gain was in line with Consensus expectations for 6.78M sales.

Sales of single-family homes fell 2.0% after a slight March dip. The data cover sales closed in the latest and previous months, and contrast to the new home sales data which count sales at the signing of a contract.

Sales declines were widespread throughout the country. In the Northeast, sales reversed all of the prior month's gain with a 4.5% drop (-3.4% y/y). Sales in the Midwest more than reversed the prior month's gain and fell 3.4% (-4.1% y/y). In the South sales fell 0.8% (-2.4% y/y) for the third consecutive monthly drop and sales in the West were unchanged (-12.8% y/y).

The median price of an existing single-family home rose 2.5% (4.3% y/y). Prices are not seasonally adjusted.

The latest release from the National Association of Realtors is available here.

Existing Home Sales (000, AR) April March Y/Y 2005 2004 2003
Total Home Sales  6,760 6,900 -5.7% 7,064 6,722 6,176
  Single Family Home Sales 5,920 6,040 -5.6% 6,170 5,912 5,443
Single Family Median Home Price (000) $222.7 $217.2 4.3% $206.3 $182.8 $169.1
close
large image