Author Archives: Beth Ann Bovino

U.S. economic forecast: it’s not over yet

Just as some good news finally came our way in June, increasing our hopes that the soft patch in the economy may finally be behind us, the government’s payrolls report on July 8 indicated that it isn’t over yet. Automatic Data Processing’s (ADP’s) June private payrolls survey had showed that employers had added a solid […]

May new homes sales down 2.1% to 319,000 annualized pace

May new home sales were down 2.1% m/m to an annualized 319,000 from a revised 326,000 the month before (previously 323,000). While the report showed a drop in sales, it was much better than the decline to 310,000 that consensus had expected. The months’ supply of homes on the market fell to 6.2 from 6.3 […]

U.S. FHFA Home Price Index up 0.8% in April

The FHFA home price index for April was up an annualized 0.8% m/m, erasing the 0.4% drop in March and the first increase since May 2010. On a year over year basis, the index is still down 5.7%, and is down 19.3% from its April 2007 peak. Six of the nine Census Districts saw month-to-month […]

May existing home sales fell 3.8% M/M to 4.81 million

Existing home sales fell 3.8% m/m to an annualized 4.81 million units in May. It’s about in line with the 4.8 million units expected by consensus, though comes after April was downwardly revised to 5.0 million (previously 5.05 million). Condo/coop sales saw the largest drop, down 8.1% to 570,000, while single family sales fell 3.2% […]

Economic Update: U.S. HOUSING STARTS ROSE 3.3% IN MAY

U.S. housing starts rose 3.3% to 560,000 in May, stronger than the 546,000 expected by consensus though still not enough to offset the 8.8% drop to 541,000 (revised from 523,000) seen the month before. Housing starts are down 3.4% from last May. Single family starts were up 3.7% to 419,000 pace, offsetting the 3.3% decline […]

Economic Update: New Home Sales Rise 7.3%

Sales of new single-family homes rose 7.3% in April, to an annual rate of 323,000. The rate is higher than the 303,000 expected by the consensus, but is down 23.1% from last April, when sales were boosted by the homebuyer tax rebate. The median sales prise rose 4.6% from a year earlier, to $217,900, the […]

Economic Update: Housing Starts

Housing starts dropped 10.6% in April, to an annual rate of 523,000 from an upwardly revised 585,000 in March. The consensus was for 570,000 starts.  Starts are down 12.8% from April 2010, when the tax rebate program was in full swing. Single-family starts dropped 5.1% to 394,000, while multi-family plunged 28.3% to 114,000. Starts rose […]

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