Existing Home Sales (December 2015)
– Existing Home Sales seasonally adjusted, annualized 5,460,000. Previous was 4,760,000
– Existing Home Sales month/month +14.7% Previous was -10.5 %
– Existing Home Sales year/year +7.7%. Previous was -3.8%
These data are difficult to interpret because TRID rules hurt Sales in November and pushed them into December. While the month/month comparisons are meaningless for those 2 months, the fact that sales were +7.7% year-on-year speaks to a generally healthier housing market.
In December, cash buyers accounted for 24% of existing home sales, and first time buyers were 32%.
Full existing home sales report here, and today’s other economic data releases below.
Chicago Federal Reserve National Activity Index (December 2015)
– Level -0.22. Previous was -0.30
– 3 Month Moving Average -0.20
This is a weighted average of 85 indicators of economic activity. This is the 5th consecutive month the indicator has been negative.
PMI Manufacturing Index Flash (January 2016)
– level 52.7. Previous was 51.3.
Improvements in manufacturing indices have been rare of late.
Leading Economic Indicators (December 2015)
– Leading Indicators month/month +0.1%. Previous was +0.1%.
LEI will likely suffer when January is published next month with equities getting hammered and jobs growth moderating.