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Economy in Brief
U.S. Housing Affordability Fell Back in February, but Still in Recent Range
The NAR U.S. Fixed Rate Mortgage Housing Affordability Index decreased 7.6% (-1.4% y/y) in February to 173.1...
European New Car Registrations Remarkably Strong Yet Forgettable
Car registrations are not going to be the only statistic that bears these dual and seemingly dueling characteristics...
U.S. Retail Sales Soar in March
Total retail sales including food service and drinking establishments increased 9.8% (27.7% y/y) during March...
U.S. Industrial Production Rebounded in March
Industrial production rebounded in March, rising 1.4% m/m (+1.0% y/y)...
U.S. Home Builder Index Edges Higher in April
The NAHB-Wells Fargo Composite Housing Market Index rose 1.2% to 83 during April...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller December 23, 2015
Sales of new single-family homes increased 4.3% during November to 490,000 from 470,000 in October, revised from 495,000. The gain left sales up 9.1% y/y but down 10.1% since the February high. Sales of 505,000 had been expected in the Action Economics Forecast Survey. The rise contrasts to yesterday's report of a 10.5% decline in existing single-family home sales.
The median price of a new home increased 6.3% from October and rose 0.8% y/y. The average sales price gained 4.7% m/m, off 4.5% y/y.
Home sales in the West increased 20.5% to 135,000, the highest level since March. Sales in the South also were firm, rising 4.5% to 277,000. In the Northeast, sales declined 28.6% to 25,000. Home sales in the Midwest fell 8.6% to 53,000.
The inventory of unsold homes increased 10.5% y/y and there was 5.7 months supply at the current sales rate. That figure was up from 4.0 months in January 2013. The number of months a new home was for sale remained near the record low at 3.0 months.
The data in this report are available in Haver's USECON database. The consensus expectation figure from the Action Economics Forecast Survey is available in the AS1REPNA database.
U.S. New Single-Family Home Sales (SAAR, 000s) | Nov | Oct | Sep | Y/Y %, SA | 2014 | 2013 | 2012 |
---|---|---|---|---|---|---|---|
Total | 490 | 470 | 442 | 9.1 | 440 | 430 | 368 |
Northeast | 25 | 35 | 19 | -13.8 | 28 | 31 | 29 |
Midwest | 53 | 58 | 57 | -10.2 | 58 | 61 | 47 |
South | 277 | 265 | 258 | 19.4 | 244 | 233 | 195 |
West | 135 | 112 | 108 | 4.7 | 110 | 106 | 97 |
Median Price (NSA, $) | 305,000 | 286,900 | 310,400 | 0.8 | 283,775 | 265,092 | 242,108 |