Today we get our first glimpse of the carnage in the housing market from August. With mortgage rates having soared and homebuilder sentiment tumbling (and permits plunging), it should be no surprise that existing home sales were expected to fall for the 7th straight month (-2.3% MoM vs -5.9% MoM in July).
Newsfeed: US Existing Home Sales Sink For 7th Straight Month Read More »
Another month, another plunge in housing.
Hot on the heels of the latest catastrophic homebuilder sentiment print and plunging single-family starts and permits, analysts expected existing home sales to accelerate their recent decline with a 4.9% MoM drop in July.
Existing-home sales sagged for the sixth straight month in July, according to the National Association of REALTORS®. All four major U.S. regions recorded month-over-month and year-over-year sales declines.
Newsfeed: Existing-Home Sales Retreated 5.9% in July Read More »
With interest rates now hovering around 5%, existing-home sales are down more than 14% from last year. Some potential buyers are sitting on the sidelines until rates or prices or both decline, while sellers are hoping the market picks up again so they can get a higher price.
Newsfeed: The Fed’s Damage to the Housing Market May Last Years Read More »
Existing home sales showed a 5.4% decline in June from May, but prices remain elevated, according to the National Association of Realtors. The median sale price of existing homes in the U.S. set a new record high of $416,000 in June, marking a 13.4% increase from a year ago.
Existing-home sales dropped for the fifth straight month in June, according to the National Association of REALTORS®. Three out of four major U.S. regions experienced month-over-month sales declines and one region held steady. Year-over-year sales sank in all four regions.
Newsfeed: Existing-Home Sales Slid 5.4% in June Read More »
On the heels of ugly homebuilder sentiment and tumbling single-family home starts and permits, analysts expected existing home sales to extend their recent decline with a 1.1% MoM drop in June.
Newsfeed: US Existing Home Sales Plunge In June As Affordability Collapses Read More »
After an unexpected jump in new home sales and larger than expected drop in existing home sales, today’s pending home sales print is the tie-breaker for sentiment in the housing market in May as homebuilder sentiment soured and mortgage rates and applications soared.
Following the disappointing tumble in existing home sales (to 2 year lows), analysts expect a modest drop in new home sales in May of just 0.2% MoM (after April’s 16.6% MoM plunge). Instead, new home sales spiked 10.7% MoM (from an updwardly revised -12% MoM print in April) – despite soaring mortgage rates…
Newsfeed: New Home Sales Unexpectedly Rebounded In May As Prices Plunged Read More »
Have you heard? There’s been some bad weather lately….and it seems to have sub-marined much of the U.S. economy. At least that’s the official spin. But is it all doom and gloom or is there a chance of sunshine? Here to rise above the clouds of confusion to see what the latest economic stats mean
2/23/14: Clues In The News – Cloudy With a Chance of Sunshine Read More »