Recent Updates
- US: Kansas City Fed Mfg Survey (May)
- US: Pending Home Sales Index (Apr)
- US: GDP and Corporate Profits (Q1, 2nd release)
- Canada: Retail Trade, Payroll Employment (Mar)
- South Africa: PPI (Apr) Government Debt (Apr-Prelim)
- more updates...
Economy in Brief
Kansas City Fed Manufacturing Index Dips in May But Remains Strong
The Kansas City Fed reported that its manufacturing sector business activity index declined to 23 in May...
U.S. Pending Home Sales Decline Sharply in April
Home buying remains under pressure...
U.S. Unemployment Claims Eased Slightly in the Latest Week
Initial claims for unemployment insurance filed in the week ended May 21 were 210,000 (-52.4% y/y)...
U.S. Durable Goods Orders Increase Modestly in April
Manufacturers' new orders for durable goods increased 0.4% during April (12.2% y/y)...
U.S. Mortgage Applications Continue to Weaken
The MBA Loan Applications Index fell 1.2% (-54.5% y/y) in the week ended May 20...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
State Coincident Indexes in April 2022
State Labor Markets in April 2022
Profits & Margins Plunge In Q1: Expect More Margin Contraction As Fed Squeezes Inflation
The Many Links of Inflation Cycle: Hard Landing Is Needed to Crack Them
Peak Inflation and Fed Policy: A Relationship which Should Worry the Fed and Scare Investors
by Tom Moeller August 29, 2012
Pending sales of single-family homes rose 2.4% last month after
an unrevised 1.4% June decline, according to the National Association of
Realtors (NAR). Sales have risen nearly one-third from the 2010 low. The
sales index of 101.7 was its highest since April 2010 when the first-time
home buyers tax credit program expired.
Sales improved last month across most of the country led by a 5.2% advance (15.6% y/y) in the South. Sales in the Midwest followed with a 3.4% rise (20.2% y/y) while sales in the Northeast ticked up 0.5% (3.4% y/y). Home sales in the West fell 1.7% (+1.3% y/y).
Pending home sales figures are analogous to the new home sales data from the Commerce Department in that they measure existing home sales when the sales contract is signed, not at the time the sale is closed. The series dates back to 2001 and the data are available in Haver's PREALTOR database.
The Fed's Emergency Liquidity Facilities during the Financial Crisis: The FDC from the Federal Reserve Bank of New York is available here.
Pending Home Sales (2001=100) | Jul | Jun | May | Y/Y% | 2011 | 2010 | 2009 |
---|---|---|---|---|---|---|---|
Total | 101.7 | 99.3 | 100.7 | 12.4 | 90.3 | 89.2 | 94.7 |
Northeast | 77.0 | 76.6 | 82.9 | 13.4 | 68.0 | 70.9 | 76.8 |
Midwest | 97.4 | 94.2 | 94.8 | 20.2 | 81.6 | 79.9 | 88.9 |
South | 111.7 | 106.2 | 108.4 | 15.6 | 98.3 | 97.0 | 98.4 |
West | 109.9 | 111.8 | 108.7 | 1.3 | 104.2 | 100.8 | 109.2 |