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Comments on June Existing Home Sales

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Comments on June Existing Home Sales

Earlier: NAR: Existing-Home Sales Decreased to 5.27 million in June A few key points: 1) The key for housing – and the overall economy – is new home sales, single family housing starts and overall residential investment. Overall, this is still a somewhat reasonable level for existing home sales.  No worries. 2) Inventory is...
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California Bay Area Home Sales Decline 4.7% YoY in Q2, Inventory up 11% YoY

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California Bay Area Home Sales Decline 4.7% YoY in Q2, Inventory up 11% YoY

From Compass chief economist Selma Hepp: How did the spur of IPOs impact Bay Area housing markets? • Higher-end sales surged. While the total number of homes sold in the second quarter trended below last year by about 5 percent, higher-priced sales, above million, surged again bringing second quarter sales in line with last...
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Thursday: GDP, Unemployment Claims, Pending Home Sales

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Thursday: GDP, Unemployment Claims, Pending Home Sales

Thursday:• At 8:30 AM ET, The initial weekly unemployment claims report will be released.  The consensus is for 215 thousand initial claims, up from 211 thousand last week. • At 8:30 AM, Gross Domestic Product, 1st quarter 2019 (Second estimate). The consensus is that real GDP increased 3.0% annualized in Q2, down from the...
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Lawler: Early Read on Existing Home Sales in April

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Lawler: Early Read on Existing Home Sales in April

From housing economist Tom Lawler: Early Read on Existing Home Sales in April Based on publicly-available local realtor/MLS reports released across the country through today, I project that existing home sales as estimated by the National Association of Realtors ran at a seasonally adjusted annual rate of 5.31 million in April, up 1.9% from...
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Tuesday: New Home Sales, Richmond Fed Mfg

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Tuesday: New Home Sales, Richmond Fed Mfg

From Matthew Graham at Mortgage News Daily: Mortgage Rates Modestly Higher to Start The Week Mortgage rates were higher again on Monday, but just barely. The average lender was still in worse shape on Tuesday or Wednesday of last week when rates were the highest they’d been in about a month. [30YR FIXED -...
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CAR: “California home sales moderate in March”

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CAR: “California home sales moderate in March”

The CAR reported: California home sales, median price moderate in March, C.A.R. reports The lowest interest rates in more than a year boosted California’s housing market and kept home sales level in March after an exceptionally strong performance the previous month, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today. Closed escrow sales of existing,...
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Friday: New Home Sales, Personal Income and Outlays

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Friday: New Home Sales, Personal Income and Outlays

Friday:• At 8:30 AM ET, Personal Income, February 2019; Personal Outlays, January 2019. The consensus is for a 0.3% increase in personal income, and for a 0.3% increase in personal spending. And for the Core PCE price index to increase 0.2%. • At 9:45 AM, Chicago Purchasing Managers Index for March. The consensus is...
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Comments on February Existing Home Sales

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Comments on February Existing Home Sales

Earlier: NAR: Existing-Home Sales Increased to 5.51 million in February A few key points: 1) Seasonally February is one of the weakest months of the year for existing home sales (See Not Seasonally Adjusted NSA graph below).  Since existing home sales are counted at closing, these are properties that usually went under contract during...
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Thursday: New Home Sales, Unemployment Claims

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Thursday: New Home Sales, Unemployment Claims

Note: Still catching up on New Home sales following the government shutdown. The report released tomorrow will be for January. The February new home sales report is scheduled for March 29th. The March report will be released on the normal schedule. Thursday:• At 8:30 AM, The initial weekly unemployment claims report will be released....
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A few Comments on November New Home Sales

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A few Comments on November New Home Sales

First, this report was for November (it was almost ready to release when the government shutdown began in December). The December report will probably be released soon, but no release date has been announced yet. Based on other data, I’d expect sales to be weak in December, but talking to builders, I expect a...
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