New Home Sales (September 2012)
– New Home Sales (seasonally adjusted annualized rate) – 389,000. Previous was 368,000
– The median price of a new home sold was down 3.2% which breaks a string of increases.
A slow, steady increase in New Home Sales is a healthy sign but…
MBA Mortgage Applications (week ended 10/19/2012)
Purchase Index – Week/Week -8.0%
Refinance Index – Week/Week -13.0%
Composite Index – Week/Week -12.0%
The drop in refinance applications stems from higher rates. The drop in purchase applications indicates a possible flattening in Home Sales.
PMI Manufacturing Index Flash (October 2012)
– Level was 51.3 down from 51.5 but still indicative of growth. This is a survey index.