Recent Updates
- US: Monthly Treasury Statement, Wholesale Trade (Jun), Consumer Prices (Jul)
- Brazil: Retail Trade (Jul)
- North Macedonia: Central Bank Bills (Jul)
- Albania: Banking system liabilities (Q2)
- more updates...
Economy in Brief
U.S. Federal Government Budget Deficit Shrinks in July
The U.S. Treasury Department reported a federal budget deficit of $211.1 billion in July...
U.S. Mortgage Applications Rose Slightly in the Latest Week
Mortgage applications increased 0.2% (-62.9% y/y) from one week earlier...
U.S. Productivity Declines in Q2, Pushing Unit Labor Costs Higher
Nonfarm business sector productivity fell 4.6% (AR) during Q2'22...
U.S. Small Business Optimism Edged Up in July
The NFIB Small Business Optimism Index edged up to 89.9 in July...
U.S. Gasoline & Crude Oil Prices Continue Weakening
Retail gasoline prices declined to $4.04 per gallon (+27.3% y/y) last week...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
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 |
