Housing Archive

Redbook Retail Sales, NY Housing Spike

More of same- looking very weak Highlights Redbook’s sample has been reporting depressed sales rates since all the way back in March, including the latest week when same-store year-on-year sales rose only 1.2 percent. The report blames a seasonal lull for the latest disappointment, citing lack of shopper interest ahead of the ...Read More

Housing Starts, Consumer Sentiment

The increase is entirely a multi family story, and multi family dwellings are cheaper/smaller than single family: Highlights Strong demand for apartment units drove housing starts & permits data far beyond expectations, overshadowing less strength for the key single-family home category. Starts came in near the top of expectations, up 9.8 percent ...Read More

Claims, Phili Fed, Housing index

Down a touch but the 4 week moving average still moving higher: Highlights Auto retooling is clouding initial jobless claims data which fell 15,000 in the July 11 week to 281,000. But the 4-week average, inflated by a 14,000 spike in the prior week, rose 3,250 to a 282,500 level that’s more ...Read More

mtg purch apps, Empire survey, industrial production

Still up from last year this time but seem stalled out at relatively low levels and Q2 not any better than Q1: United States : MBA Mortgage Applications Highlights Weekly data are often volatile and it’s hard making much of the last two weeks of purchase applications data which plunged 8.0 percent ...Read More

Mtg purchase apps, Consumer credit

The purchase index had a nice increase, more than reversing last week’s decline, as cash purchases have declined and been ‘replaced’ with mortgage financing. There has been a pick up in total sales as well, though applications remain severely depressed and haven’t even recovered to 2013 levels. The July 4 holiday may ...Read More

Redbook retail sales, Chicago PMI, CS house price index, consumer confidence

This measure of retail sales remains surprising depressed, even to me: United States : Redbook Highlights Redbook’s sample continues to report stubbornly low sales rates, at a same-store year-on-year plus 1.7 percent in the June 27 week. Month-over-month, Redbook’s call is a sharp 1.5 percent contraction for June in what is a ...Read More

existing home sales, Greece and China comments

So after cheering the big jump last month to 112.4, it gets revised down to only 111.6, so the lower than expected print of 112.6 vs 113 expected is now hailed as a larger than expected increase from last month, as the shameless cheer leading continues: United States : Pending Home Sales ...Read More

Durables charts, new home sales,FHFA House Price Index, Japan PMI, GDP, Atlanta Fed, Mtg. purch apps, oil comment

Longer term year over year view not looking so good: The cheer leading continues, and sales in the Northeast up 87% looks a bit unsustainable? New Home Sales Highlights The lift off for housing is appearing more and more like it’s straight up. New home sales rose 2.2 percent in May to ...Read More

Existing home sales, Chicago Fed, Greece

Up some but still at depressed levels, and not enough to indicate a general bounce in spending. Personally I sold come small condos in Chicago I’d owned since working there in the early 1980’s. I got tired of fooling with them, net rental income was low, and prices weren’t going anywhere, And ...Read More

Atlanta Fed, Italy trade, mtg purchase apps, oil prices

Up some then back down some, still at a very low rate off of a negative Q1: Down a bit but still positive, as is most all of the euro zone now with the euro at current levels: Italy : Merchandise Trade Highlights The seasonally adjusted trade balance was in a E3.5 ...Read More