Recent Updates
- US: Consumer Sentiment (May-final), Personal Income, Adv Trade & Inventories (Apr)
- China: Public Funds Asset Mgmt, SOE Economy Operation (Apr), Star Rated Hotels (Q1)
- Croatia: Retail Trade (Apr)
- more updates...
Economy in Brief
U.S. Advance Trade Deficit Narrowed Markedly in April
The advance estimate of the U.S. international trade deficit in goods narrowed to $105.9 billion in April...
As Inflation Overshoots, Are Central Banks Overdoing It?
This report is a reminder of how complicated inflation and monetary policy making can be...
U.S. GDP Decline is Little-Revised in Q1'22; Corporate Profits Fall
U.S. real GDP fell 1.5%, SAAR (+3.5% y/y) last quarter...
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...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller July 26, 2007
New home sales during June fell 6.6% to 834,000 following a 2.2% drop in May. The decline was back down to the current cycle’s low.
June sales were down sharply in nearly every region:In the Northeast sales fell 27.1% and were unchanged y/y. In the Midwest sales dropped 17.1% (-28.4% y/y). Sales out West declined a huge 22.5% (-42.8% y/y) but in the South sales rose 7.6% (-12.9% y/y). 
The inventory of unsold homes was unchanged for the month and actually fell 5.0% y/y.
The median new home price fell 1.3% (-2.2% y/y) for the month.
The Fed’s latest Beige Book covering regional economic activity is available here.
| US New Homes | June | May | Y/Y | 2006 | 2005 | 2004 |
|---|---|---|---|---|---|---|
| Total Sales (SAAR, 000s) | 834 | 893 | -22.3% | 1,049 | 1,279 | 1,201 |
| Median Price (NSA, $) | 239,800 | 239,400 | -2.1% | 241,125 | 234,208 | 217,817 |
