Global Macro Perspectives
(For August 2010) Sales of existing homes in U.S. rose 7.6% to 4.13 million units SAAR. Consensus was at 4.1 million. Chart 1. U.S. Existing Home Sales Total housing inventory is unchanged from July at 4.0 million units. Months supply fell from 12.5 to 11.6 months. Chart 2. U.S. Existing Home Sales Inventory & U.S. Existing […]
(For July 2010) FHFA House Price Index fell 0.5% in July vs. fall of 0.3%in June. On year level the index is down 3.3%. House prices could return to negative trend. Chart 1. FHFA House Price Index
(For The Week Ending September 17, 2010) MBA mortgage applications fell 1.4% , prior reading was a decrease of 8.9.%. Refinance index fell 0.9%; Purchase index fell 3.3%. Purchase index which is supposed to be leading home sales – pathetic in one word. Chart 1. MBA Mortgage Applications
(For August) U.S. housing starts in August rose 10.5% to 598.000 vs. revised (5.000 lower) 541.000 July reading. The consensus was at 550.000. On year level U.S. housing starts are up 2.9% Chart 1. U.S. Housing Starts Number of building permits issued in the U.S. in August rose 1.8% to 569.000. The consensus was at 560.000. […]
(For July 2010) Moody’s/REAL National Commercial Property Index fell 3.1% in July and it is now running at -7.2% YoY. Chart 1. Moody’s/Real National Commercial Property Index
(For September) Housing Market Index for September came out at 13 vs. 13 in August. Consensus was at 14. All components unchanged except traffic of perspective buyers which edged 1 point lower. Chart 1. NAHB / Wells Fargo Housing Market Index
(For The Week Ending September 10, 2010) MBA mortgage applications fell 8.9% , prior reading was a decrease of 1.5.%. Refinance index fell 10.8%; Purchase index fell 0.4%. No change in purchase applications; Refinancing is heading lower as number of homeowners who have not refinanced is being exhausted. Chart 1. MBA Mortgage Applications
(For July 2010) Pending home sales index rose 5.2% in July vs. revised fall of 2.8% in June. Chart 1. Pending Home Sales Index
(For July 2010) I forgot to post this yesterday. U.S. construction spending fell 1.0% MoM in July vs. -0.6% consensus and revised 0.8% fall in June. On year level we are at -10.7%. Lowest level in 10 years. Chart 1. U.S. Construction Spending
(For The Week Ending August 27, 2010) MBA mortgage applications rose 2.7% , prior reading was an increase of 4.9.%. Refinance index rose 2.8%; Purchase index rose 1.8%. Only refinances, no change in purchase applications. Chart 1. MBA Mortgage Applications
(For June 2010) Seasonly adjusted S&P/Case-Shiller HPI 10 city composite rose 0.3%; Seasonly adjusted S&P/Case-Shiller HPI 20 city composite also rose 0.3%. This is three month rolling average for June. Chart 1. S&P/Case-Shiller Composite 10 Chart 2. S&P/Case-Shiller Composite 20
U.S. new home sales fell 12.4% in July to 276.000 SAAR, the consensus was at 340.000 SAAR, prior reading (revised downward 15.000) was at 315.000 SAAR. Chart 1. U.S. New Home Sales SAAR
(Week Ending August 20, 2010) MBA mortgage applications rose 4.9% for week ending August 20, prior reading was an increase of 13.0.%. Refinance index rose 5.7%; Purchase index rose 0.6%. No buyers in sight. Chart 1. MBA Mortgage Applications
Sales of existing homes in U.S. fell 27.2% to 3.83 million units SAAR; the lowest reading since 1996. Consensus was at 4.65 million. Total housing inventory is at 4.0 million units vs. 3.9 million units in June. Months supply rose from 8.9 to 12.5 months; all-time high. Chart 1. U.S. Existing Home Sales Chart 2. U.S. […]
MBA mortgage applications rose 13.0% for week ending August 13, prior reading was an increase of 0.6.%. Refinance index rose 17.1%; Purchase index fell 3.4% and it is just 6 points shy of all time low. Lower rates spurred refinancing while purchasing activity stayed at recent depressed levels. Chart 1. MBA Mortgage Applications