U.S. Existing Homes Sales Rose 2.7% In January
Sales of existing homes in U.S. rose 2.7% to 5.36 million units SAAR. Consensus was at 5.22 million.
Archive for the ‘U.S. Housing’ Category
MBA Mortgage Applications Rose 13.2%
MBA mortgage applications rose 13.2%; Prior reading was a decrease of 9.5%; On year level MBA Basic Index is down 13.4%.
S&P/Case-Shiller Home Price Indexes Fell In December
Seasonly adjusted S&P/Case-Shiller HPI 20 city composite fell 0.4%; On year level 20 city index is down 2.4%.
U.S. Housing Starts Rose 14.6%; Number Of Building Permits Issued In The U.S. Fell 10.4%
U.S. housing starts in December rose 14.6% to 596.000 vs. revised (9.000 lower) 520.000 December reading. The consensus was at 529.000. On year level U.S. housing starts are down 2.6%.
MBA Mortgage Applications Fell 9.5%
MBA mortgage applications fell 9.5%; Prior reading was a decrease of 5.5%; On year level MBA Basic Index is down 30.2%.
MBA Mortgage Applications Fell 5.5%
MBA mortgage applications fell 5.5%; Prior reading was an increase of 11.3%; On year level MBA Basic Index is down 24.2%.
MBA Mortgage Applications Up 11.3%
MBA mortgage applications rose 11.3%; Prior reading was a decrease of 12.9%; On year level MBA Basic Index is down 20.8%.
U.S. Construction Spending Fell 2.5% In December
U.S. construction spending fell 2.5% in December vs. 0.1% consensus and 0.2% fall(revised from 0.4% gain) in November. On year level we are at -6.4%.
Lowest reading since July 2000.
Pending Home Sales Index Rose 2.0% In December
Pending home sales index rose 2.0% In December vs. revised (down from 3.5%) rise of 3.1% in November. On year level, the index is down 4.2%.
To repeat: Generally rising pending home sales are positive for the economy, but currently and until excess unsold housing inventory is cleared rising pending home sales index mean more foreclosed homes are being sold at depressed prices which is a sign of additional pressure on home prices.
U.S. New Home Sales Rose 17.5% In December
U.S. new home sales rose 17.5% to 329.000 SAAR; Consensus was at 300.000 SAAR, prior reading (revised downward 10.000) was at 280.000 SAAR.
Month of supplies fell from 8.4 down to 6.9 months. Backlog of unsold new homes is at 191.000, lowest since February 1968.
As I wrote yesterday, months of supply is still above pre-crisis levels, but the absolute level of unsold new homes is so low that small pickup in new home sales could lead to demand outweighing supply.
If inflow of foreclosed homes to the market does not increase dramatically the possibility of further large-scale decreases of home prices is not high. I will monitor situation closely as home prices are crucial for financial sector health.
MBA Mortgage Applications Down 12.9%
MBA mortgage applications fell 12.9%; Prior reading was an increase of 5.0%; On year level MBA Basic Index is down 13.9%.
S&P/Case-Shiller Home Price Indexes Fell In November
Seasonly adjusted S&P/Case-Shiller HPI 10 city composite fell 0.4% In November; On year level 10 city index is down 0.4%.
Moody’s/REAL National Commercial Property Index Rose 0.6% In November
Moody’s/REAL National Commercial Property Index rose 0.6% in November and it is now running at +2.8% y-o-y.
Levitating around bottom.
U.S. Existing Homes Sales Rose 12.3% In December
Sales of existing homes in U.S. rose 12.3% to 5.28 million units SAAR. Consensus was at 4.87 million.
U.S. Housing Starts Fell 4.3%; Number Of Building Permits Issued In The U.S. Rose 16.7%
U.S. housing starts in December fell 4.3% to 529.000 vs. revised (2.000 lower) 553.000 November reading. The consensus was at 550.000. On year level U.S. housing starts are down 8.2%.