Would you pay a 40% premium for new construction?
New Home Sales
Here's all the housing and other economic data since last week.
Quick takes and charts on all today's data
Personal income stagnating. New Home Sales improve, but still, 2011 numbers aren't pretty.
Personal income stagnating. New Home Sales improve, but still, 2011 numbers aren't pretty.
Today's stats: new home sales, Dallas Fed manufacturing. And the latest 'Everything's OK In Europe' story.
Durable Goods Orders (September) -New Orders – Month/Month -0.8 % -Ex-transportation – Month/Month 1.7 % -It is possible that this indicates that the GDP gains in 3rdQ will not be matched by the 4thQ. The flattening of the leading Consumer Metrics data is still there. Housing -New Home Sales (seasonally adjusted annual rate) 313,000. -Previous
Housing -New Home Sales for August were 295,000 (annualized) -Previous was 298,000 -This is a 6-month low -Prices were -7.7% year-on-year, worst since July 2009 -This is despite lower prices and record low mortgage rates. -New Homes are important to economic growth: they provide jobs for the workers who build them and many other jobs
Retail Sales -ICSC-Goldman Same Store Sales Week/Week: -1.0% -ICSC-Goldman Same Store Sales Year/Year: 3.0% -Redbook Same Store Sales Year/Year: 3.6% -Redbook Previous was 4.7% -If consumer spending keeps slowing, we’ll have another recession Richmond Fed Manufacturing Index -August index change: -10 (vs. -1 for July) –Full report -More evidence supply side was more confident than
June New Home Sales -New Home Sales: 312,000 (annualized) -312k is less than half 700k economists consider healthy -Down 1% from May, up 1.6% from June 2010 -Median new home sales price up 7.2% to $235,200 -Average new home sales price $269,000 -60% of the gain is in the South -6.3 months supply at current
Initial Jobless Claims – 429,000 for week ended June 18, up 9,000 from previous week – 4-week moving average 426,250, unchanged from previous week – Claims have been above 400,000 for the past 11 weeks – Job market remains extremely weak. Home Sales – May New Home Sales: 319,000 (annualized) – Down 2.1% since April,
Rates remain at 2011 lows on mostly weaker economic reports. Below is a recap last week to today, newest first. Mortgage bonds rise on worse news, causing rates to fall and vice versa, so headlines are categorized accordingly. Rates should hold this week, which is dominated by May jobs reports (Wed and Fri) with latest
Rates remain at 2011 lows on mostly weaker economic reports. Below is a recap last week to today, newest first. Mortgage bonds rise on worse news, causing rates to fall and vice versa, so headlines are categorized accordingly. Rates should hold this week, which is dominated by May jobs reports (Wed and Fri) with latest
Housing: -New Home Sales (for April) were 323,000 whch was better than previous and consensus. Retail Sales: -ICSC Goldman was +3.1% year over year. -Redbook was +3.4% year over year. -The Consumer Metrics Institute of online sales while still showing contraction has improved in the past week. Recent weeks Retail Sales have been impacted by
Simplicity is key. For example, this is what actor George Burns used to answer when people asked him the secret to living past 100: “Don’t die.” An early-week rate advisory reduced to something as simple would say “Don’t lock” because there’s still room for rates to improve slightly before Wednesday. But markets are never quite
Yesterday’s S&P Case Shiller January 2011 report of existing home prices showed average U.S. home prices declined 3.1% from January 2010. Also January was the sixth straight month with a lower reading from the prior month, which reflects sustained foreclosure volumes and high unemployment. U.S. home prices are now at similar levels to what they
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