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A Few Comments on May Existing Home Sales

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A Few Comments on May Existing Home Sales

Earlier: NAR: “Existing-Home Sales Backpedal, Decrease 0.4 Percent in May” A few key points: 1) As usual, housing economist Tom Lawler’s forecast was closer to the NAR report than the consensus. See: Lawler: Early Read on Existing Home Sales in April.   The consensus was for sales of 5.56 million SAAR, Lawler estimated the...
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NAHB: Builder Confidence Decreases to 68 in June

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NAHB: Builder Confidence Decreases to 68 in June

The National Association of Home Builders (NAHB) reported the housing market index (HMI) was at 68 in June, down from 70 in May. Any number above 50 indicates that more builders view sales conditions as good than poor. From NAHB: Builder Confidence Slips Two Points as Lumber Prices Soar Builder confidence in the market for...
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NAHB: Builder Confidence Decreases to 68 in June

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NAHB: Builder Confidence Decreases to 68 in June

The National Association of Home Builders (NAHB) reported the housing market index (HMI) was at 68 in June, down from 70 in May. Any number above 50 indicates that more builders view sales conditions as good than poor. From NAHB: Builder Confidence Slips Two Points as Lumber Prices Soar Builder confidence in the market for...
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Schedule for Week of June 17, 2018

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Schedule for Week of June 17, 2018

The key economic reports this week are May Housing Starts and Existing home sales. For manufacturing, the Philly Fed manufacturing survey will be released this week. —– Monday, June 18th —–10:00 AM: The June NAHB homebuilder survey. The consensus is for a reading of  70, unchanged from 70 in May. Any number above 50...
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Tuesday: CPI

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Tuesday: CPI

From Matthew Graham at Mortgage News Daily: Mortgage Rates Near Recent Highs Mortgage rates edged up to the highest levels in several weeks today. Only a handful of days from mid-May stand between current levels and the highest rates in 7 years. That sounds a bit more dramatic than it is. Rates have been...
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Schedule for Week of June 10, 2018

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Schedule for Week of June 10, 2018

The key economic reports this week are the May Consumer Price Index (CPI) and Retail Sales. For manufacturing, May industrial production, and the June New York survey, will be released this week. The FOMC meets this week and is expected to raise the Fed Funds rate 25bps. —– Monday, June 11th —–No major economic...
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Leading Index for Commercial Real Estate Increases in May

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Leading Index for Commercial Real Estate Increases in May

Note: This index is possibly a leading indicator for new non-residential Commercial Real Estate (CRE) investment, except manufacturing. From Dodge Data Analytics: Dodge Momentum Index Inches Up in May The Dodge Momentum Index eked out a small gain in May, moving 1.8% higher to 167.8 (2000=100) from the revised April reading of 164.9. The...
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Wednesday: Trade Deficit

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Wednesday: Trade Deficit

Wednesday:• At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index. • At 8:30 AM, Trade Balance report for April from the Census Bureau. The consensus is for the U.S. trade deficit to be at .0 billion in April unchanged from .0 billion in March....
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Sunday Night Futures

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Sunday Night Futures

Weekend:• Schedule for Week of June 3, 2018 Monday:• No major economic releases scheduled. From CNBC: Pre-Market Data and Bloomberg futures: S&P 500 are unchanged, and DOW futures are up slightly (fair value). Oil prices were down over the last week with WTI futures at .83 per barrel and Brent at .54 per barrel. ...
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U.S. Light Vehicle Sales decrease to 16.9 million annual rate in May

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U.S. Light Vehicle Sales decrease to 16.9 million annual rate in May

Based on a preliminary estimate from AutoData, light vehicle sales were at a 16.9 million SAAR in May. That is up 1% year-over-year from April 2017, and down 1% from last month. Click on graph for larger image. This graph shows the historical light vehicle sales from the BEA (blue) and an estimate for...
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