Recent Updates

  • Spain: *SPAIN SPPI REBASED FROM 2010=100 TO 2015=100
  • Spain: Services Price Indexes (Q1)
  • Germany: State CPI: Saxony-Anhalt (May-Press)
  • UK: LSL ACAD House Price Indexes, Visa Expenditure Index (May)
  • Sweden: Securities Statistics (May); Finland: Government Finance (May); Iceland: HICP (May)
  • Turkey: Labor Force Survey, Employment by Industry (Mar), Retail Sales (Apr); South Africa: Tourism and Migration (Apr)
  • Kyrgyz Republic: International Reserves (May), Remittances
  • more updates...

Economy in Brief

New Home Prices Down, Sales Up
by Tom Moeller October 26, 2006

The median sales price of a new single family home fell 9.3% to $217,000 during September. Though the August level of prices was revised up, the year to year change of -9.7% was the worst since 1970 and it lowered prices below the average level of 2004.

Sales of new single family homes sales rose 5.3% during September to 1.075M and exceeded expectations for a gain to 1.040M. Sales in August were revised down moderately.

New home sales during the first nine months of this year are down 15.6% from the first nine months of 2005 and in September were 21.4% below the monthly peak during July 2005.

Sales rose m/m only in the West (-13.6% y/y) and in the South (-7.9% y/y). In the Northeast sales reversed nearly all of the prior month's jump (-6.6% y/y) and in the Midwest sales also fell hard (-36.6% y/y.

The number of new homes for sale edged fell for the second month (+14.4% y/y). The year to year breakdown by region is as follows: Northeast, 11.1%; West, 17.8%; South, 18.2%; Midwest, -1.0%.

U.S. New Homes September August Y/Y 2005 2004 2003
Total Sales (AR, 000's) 1,075 1,021 -14.2% 1,280 1,201 1,091
Median Price (NSA) $217,100 $239,300 -9.7% $234,208 $217,817 $191,383
close
large image