Recent Updates
- China: International Trade (Nov)
- US: Public Debt (Nov), Consumer Sentiment (Dec-prelim), Employment Situation (Nov)
- Global Sector PMI (Nov)
- Consumer Sentiment Detail (Dec-prelim)
- US Sector PMI (Nov)
- Armenia: International Reserves (Nov-Prelim)
- US: Establishment Survey Detail (Nov)
- more updates...
Economy in Brief
Wholesale Inventories Grow While Sales Decline
Wholesale inventories increased 0.8% month-on-month (6.9% year-over-year) during October...
U.S. Consumer Credit Usage Expands
Consumer credit outstanding increased $25.38 billion during October...
German IP Takes Surprising October Slip
Germany's industrial production slowed to a gain of only 0.1% in September then dropped by 0.5% in October...
U.S. Trade Deficit Widens to 10-Year High; Record Goods Shortfall
The U.S. trade deficit in goods and services widened for the fifth consecutive month to $55.49 billion in October...
U.S. ADP Private Sector Payroll Growth Eases
The ADP National Employment Report indicated that private nonfarm payrolls increased 179,000 during November...
by Tom Moeller November 29, 2012
Pending sales of single-family homes jumped 5.2% (13.2% y/y) last
month after a little revised 0.4% September rise, according to the National
Association of Realtors (NAR). The latest figure broke home sales out of the
sideways trend in place for much of this year.
The rise in sales was led by a 15.6% increase (20.0% y/y) in the Midwest and sales also rose 5.5% (17.4% y/y) in the South. Elsewhere in the country there was no strength. Sales fell 1.1% (+0.9% y/y) in the West and slipped 0.1% (+13.3% y/y) in the Northeast.
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 latest Beige Book covering regional economic conditions is available here.
| Pending Home Sales (2001=100) | Oct | Sep | Aug | Y/Y% | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|
| Total | 104.8 | 99.6 | 99.2 | 13.2 | 90.3 | 89.2 | 94.7 |
| Northeast | 79.2 | 79.3 | 78.2 | 13.3 | 68.0 | 70.9 | 76.8 |
| Midwest | 104.4 | 90.3 | 95.0 | 20.0 | 81.6 | 79.9 | 88.9 |
| South | 117.3 | 111.2 | 110.4 | 17.4 | 98.3 | 97.0 | 98.4 |
| West | 105.7 | 106.9 | 102.5 | 0.9 | 104.2 | 100.8 | 109.2 |
