Recent Updates
- US: GDP by Industry (Q4), New Residential Construction (Mar)
- Romania: Industrial Turnover, New Orders (Feb)
- Kosovo: Foreign Reserves (Mar)
- Montenegro: HICP (Mar)
- Georgia: Trade by Country (Mar)
- Italy: ISTAT Business & Consumer Surveys (Apr)
- Bosnia: PPI (Mar)
- Poland: Agricultural Prices (Mar)
- Ukraine: Import and Export Indexes, Agricultural PPI, Trade by
- more updates...
Economy in Brief
Confidence, Italian Style, Erodes a Bit
Consumer and business confidence peaked in the mature portion of this cycle about 1.5 years ago...
U.S. Retail Sales Rebound Is Broad-Based
Total retail sales increased 1.6% during March following a 0.2% February dip...
Philadelphia Fed Manufacturing Index Slips in April
The Philadelphia Fed reported manufacturing conditions weakened in April...
U.S. Leading Economic Indicators Improve
The Conference Board's Composite Index of Leading Economic Indicators increased 0.4% (3.1% y/y) during March...
U.S. Business Inventories and Sales Growth Slows in February
Total business inventories increased 0.3% (4.9% year-on-year) during February...
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 |
