US New Home Sales in February were 775K vs 870K expected and down from prior 923K. Sales -18.2% vs -5.7% expected to the lowest in 9 months. The Midwest sales fell 37.5% with extreme cold weather however all regions fell back so weather was not the only negative impact.
US Existing Home Sales in September 6.54 million much stronger than the expected up 9.4%% (est 5.0%; prev R 2.0%). This was the highest since 2006 at 6.30 million and previous (revised) 5.98M million. At 2.7m supply is the lowest since 1982
US existing home sales for June were 4.72M v. 4.75M estimate. However the highlight was condominium sales soared by 29.4%, Hhousing inventory -18.2% from a year ago with huge jumps in the South and West
New home sales for April surprise with a much higher 623K versus a 480K estimate, that is a 0.6% vs. -23.4% estimate. This follows a revised 619K in March. May will be watched to see how many contracts are completed due to the Covid Lockdown.
NAHB housing market index for May 37 is up from 30 last month and a 35 estimate. For the year it is -29 from -33 last month.
US pending home sales fell a sharp -4.9% v +0.5% estimates, in contrast to December existing home sales rising to 5.54M v 5.43M expected. Mortgage data has been volatile but stronger in late 2019 flowing onto housing as the stockmarket hit all time highs.
US existing home sales rose to 5.54M v 5.43M expected and the prior 5.35M, up +3.6%% v +1.5% expected. Mortgage data has been volatile but stronger in late 2019 flowing onto housing as the stockmarket hit all time highs.
Home Depot dissappointed with it’s three quarter earnings report, sending $HD down over 5%, no mean feat with $SPX and $DJIA at ATH. The Home Depot analyst update thus has low analyst expectations.
Americans household wealth hit record highs in the second quarter of 2019. Stock prices are near record highs after the Federal Reserve have cut rates and investors ignore global economy slackness from the trade war and Brexit.
Property and stock prices have recovered after losing 3.7% in the last quarter after the Federal Reserve changed tact on rates. The move pushed Americans household wealth to record highs with a gain of 4.5% in the first quarter of 2019..