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Economy in Brief
U.S. Mortgage Loan Applications Post Another Strong Increase
The MBA total Mortgage Applications Index rose 1.6% (-13.2% y/y) during the week ended December 7...
EMU-Area IP Is Slowing But Still Growing; IP Makes Modest Rebound
EMU IP gained 0.2% in October after a 0.6% decrease...
U.S. Producer Prices Edge Higher
The headline Final Demand Producer Price Index using new methodology ticked 0.1% higher (2.5 % y/y) during November...
U.S. Financial Accounts Show Moderate Borrowing, Average Ratio to GDP
rowing in U.S. financial markets slowed in Q2 2018, according to the Federal Reserve's Financial Accounts data...
U.S. Small Business Optimism Diminishes
The NFIB Small Business Optimism Index declined to 104.8 during November...
by Tom Moeller July 26, 2007
New home sales during June fell 6.6% to 834,000 following a 2.2% drop in May. The decline was back down to the current cycle’s low.
June sales were down sharply in nearly every region:In the Northeast sales fell 27.1% and were unchanged y/y. In the Midwest sales dropped 17.1% (-28.4% y/y). Sales out West declined a huge 22.5% (-42.8% y/y) but in the South sales rose 7.6% (-12.9% y/y). 
The inventory of unsold homes was unchanged for the month and actually fell 5.0% y/y.
The median new home price fell 1.3% (-2.2% y/y) for the month.
The Fed’s latest Beige Book covering regional economic activity is available here.
| US New Homes | June | May | Y/Y | 2006 | 2005 | 2004 |
|---|---|---|---|---|---|---|
| Total Sales (SAAR, 000s) | 834 | 893 | -22.3% | 1,049 | 1,279 | 1,201 |
| Median Price (NSA, $) | 239,800 | 239,400 | -2.1% | 241,125 | 234,208 | 217,817 |
