- Italy: GDP (Q1), CPI (May-Prelim)
- France: PPI (Apr), New Residential Sales (Q1)
- Serbia Loans and Deposits
- US: Consumer Sentiment (May-final), GDP & Corp Profits (Q1-2nd Est)
- SERBIA CENTRAL BANK BALANCE SHEET
- Consumer Sentiment Detail (May-final)
- US: Philadelphia Fed State Coincidence Indexes (Apr)
- *Sweden: GDP Change in Reference Year to 2014*
- Czech Republic: GDP (Q1); Poland: GDP (Q1); Croatia: IP (Apr),
- more updates...
Economy in Brief
U.S. Initial Claims for Jobless Insurance Move Up
The job market remains on a firm footing...
Momentum in EU/EMU Grinds to a Halt...and Then?
Both the EU and EMU measures of overall sentiment came up flat in May...
U.S. State Unemployment Rates Trend Lower but Vary Widely
The overall U.S. unemployment rate in April of 5.4% stood at its lowest point since August 2008, remaining down from the late-2009 peak of 10.0%...
U.S. Gasoline Prices Inch Higher; Crude Oil Slips
Gasoline prices rose to an average $2.77 per gallon at the pump (-24.5% y/y) last week from 2.74 in the prior week...
U.S. Mortgage Loan Applications Ease as Rates Stay Elevated
The Mortgage Bankers Association reported that its total Mortgage Market Volume Index declined 1.6% last week (+10.9% y/y)...
Germany's Consumer Climate Continues to Improve
German consumer climate will advance to 10.2 in in June after logging 10.1 in May...
by Tom Moeller March 21, 2013
The National Association of Realtors reported that sales of existing homes improved 0.8% (10.2% y/y) during February to a 4.98M annual rate. The increase followed an upwardly revised 0.8% January rise. The latest fell short of Consensus expectations for 5.00M sales. Sales of existing single-family homes alone slipped 0.2% to 4.360M, up 8.7% y/y. (These data have a longer history than the total sales series.) Sales of condos and co-ops rose 8.8% m/m to 0.620, up 21.6% y/y and were at the highest level since 2007.
The median price of an existing home rose 1.8% (11.6% y/y) to $173,600. In the Northeast, the median sales price of $238,800 was up 7.6% y/y. In the West, the median price rose 22.7% y/y to $237,700. In the South, the price of $150,500 was up 9.3% y/y and in the Midwest the price rose 7.7% y/y to $129,000.
The supply of homes on the market ticked up slightly from its seven-year low to 4.7 months. The months' supply of single-family homes on the market also rose to a low 4.7 months and for condos & coops it was 4.9 months. The total number of homes on the market rose 9.6% m/m but still was off 19.2% y/y. Inventories of single-family homes fell the same 19.2% y/y while inventories of multi-family homes were off 19.3% y/y.
Reported earlier this month, the composite index of home price affordability slipped 0.5% y/y. Mortgage payments as a percent of income m/m were a low 12.1% versus the high of roughly 25.0% in 2006. The average monthly mortgage rate was 3.47%.
The data on existing home sales, prices and affordability can be found in Haver's USECON database. The regional price, affordability and inventory data are available in the REALTOR database. The expectations figure is in the AS1REPNA database.
|Existing Home Sales (Thous, SAAR)||Feb||Jan||Dec||Y/Y%||2012||2011||2010|
|Median Price, Total, ($, NSA)||173,600||170,600||180,200||11.6||175,442||164,542||172,442|