New home sales in the US in December were an unqualified disaster. The headline number came in at a seasonally adjusted rate of 414,000 for the month, missing the consensus estimate of 457,000 by a mile.
Category Archives: Home Sales and Home Prices
Case-Shiller Home Prices Near Expectations in November 2013
Written by Steven Hansen The non-seasonally adjusted Case-Shiller home price index (20 cities) for November 2013 (released today) declined slightly but showed the 18th consecutive monthly year-over-year gain in housing prices since the end of the housing stimulus in 2010.
December 2013 New Home Sales Disappointing
Written by John Lounsbury and Steven Hansen New home sales data for December 2013 declined – this data included some moderately negative backward revision. The data remains very noisy and needs to be averaged to make any sense of it.
The American Jury Is Still Out; But the European Judge Condemns the Prisoner
Age of Wisdom, Age of Foolishness (11) Written by Adam Whitehead, KeySignals.com Age of Wisdom, Age of Foolishness (10) “The American Jury is Out, But the European Jury Has Voted”[i] reported on the unfolding courtroom dramas, on both sides of the Atlantic, in relation to the verdict on the economic recovery. Last week, the American …
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Why are Housing Inventories Low?
Written by John Lounsbury Econintersect: The question asked in the headline is the title 0f an Economic Letter Economic Letter posted by William Hedberg and John Krainer of the San Fransisco Fed. They point out that inventories of houses on the market have been quite constrained even as house prices have risen significantly in many …