Is Housing up or down?

Initial Jobless Claims (week ended 4/18/2015)

– New Claims seasonally adjusted 295,000. Previous was 294,000
– New Claims  unadjusted, totaled 279,097 a decrease of 28,102 from previous
– 4-week Moving Average  284,500. Previous was 282,750.

 
PMI Manufacturing Index Flash (April 2015)

– Level  54.2. Previous was 55.3.

 
New Home Sales (March 2015)

– New Home Sales seasonally adjusted, annualized  481,000. Previous was 543,000.

The Housing Sector remains weak.

 

Yesterday showed Existing Home Sales up.  Today shows New Home Sales down. Huh?  I think that the explanation is regional.  The demand for housing be it new or existing has to do with the health of the local economy.  If there is not sufficient building in places where there is jobs growth people have no choice but to buy existing.  We always look at the national housing data to see the macroeconomic effect but housing is always local.