MND NewsWire : existing home sales

Existing Homes Sales Benefit from Tax Credit. Perspective on Road Ahead

Adam Quinones — Fri, 23 Oct 2009 18:08:00 GMT

Existing-home sales jumped 9.4 percent to an annual rate of 5.57 million units in September from a level of 5.10 million in August, and are 9.2 percent higher than the 5.10 million-unit pace in September 2008. Overall, today's release indicated continued progress in the stabilization of the housing market. However we are troubled by the forward looking statements Yun made regarding the variables that must continue to improve if housing it to undergo further stabilization and recovery....(read more)

Mid-Day Recap: Stocks at 2009 Highs Heading Into Weekend

Patrick McGee — Fri, 21 Aug 2009 17:30:55 GMT

Equity markets are closing the week on an optimistic note as modest gains were extended after housing data bolstered sentiment and the Federal Reserve chairman said a global recovery was underway. Three hours into the session, the benchmark S&P 500 was leading with 1.67% gain to 1,024, while the Dow was up 1.52% to 9,492, and the Nasdaq was following a with a 1.36% gain to 2,016. For the week, the S&P is up close to 2%....(read more)

Sales of Existing Homes Hurt by Poor Appraisals

Patrick McGee — Tue, 23 Jun 2009 15:08:00 GMT

Sales of existing homes saw their first back-to-back increase in nearly four years last month, but while the percentage gain in May was encouraging, the actual level of sales was lower than expected due to downward revisions. The pace of all existing home sales rose 2.4% in May to 4.77 million, up from the April pace of 4.66 million. Compared to May 2008, the sales pace has fallen by 3.6%. The National Association of Realtors said demand is up due to falling house prices, the first-time buyer tax...(read more)

Existing Home Sales Climb Beyond Expectations, Boost Stocks

CEP News Feed — Mon, 23 Mar 2009 14:28:05 GMT

Existing home sales climbed well above expectations on Monday, a welcome respite from the mostly dismal news on the U.S. housing sector. Existing home sales grew 5.1% in February against expectations for a 0.9% decline, and following a 5.3% drop in January...(read more)

Home Sales Plummet Below Expectations

CEP News Feed — Wed, 25 Feb 2009 15:21:27 GMT

Home sales dropped far below expectations on Wednesday, indicating the housing market downturn is far from over. Existing home sales fell 5.3% against expectations for a 1.1% increase. December's 6.5% rise was downwardly revised to +4.4%. Sales of...(read more)

Foreclosures Give Boost to Existing Home Sales

CEP News Feed — Mon, 26 Jan 2009 16:18:36 GMT

The housing market performed miserably in 2008, but the final month of the year showed an upside surprise in sales of previously-owned homes against expectations of a third consecutive monthly decline. The pace of existing home sales jumped 6.5% in December...(read more)

Pace of U.S. Existing Home Sales Rises 6.5% to 4.74 Million Units in December

CEP News Feed — Mon, 26 Jan 2009 15:18:50 GMT

The pace of sales for existing homes in the United States came in much better than market expectations in December, according to an industry survey released Monday. Existing home sales rose to an annualized pace of 4.74 million units in December, marking...(read more)

Pace of Existing Home Sales Falls 8.6% to 4.49 Million Units in November

CEP News Feed — Tue, 23 Dec 2008 15:14:20 GMT

The pace of sales for existing homes in the United States weakened much more than market expectations in November, according to an industry survey released Tuesday. U.S. existing home sales fell to an annualized pace of 4.49 million units in November...(read more)

Pace of Existing Home Sales Falls 3.1% to 4.98 Million Units in October

CEP News Feed — Mon, 24 Nov 2008 15:53:08 GMT

Existing home sales fell more than expected to an annualized pace of 4.98 million units in October, a 3.1% decline over the month, following September's downwardly revised sales pace of 5.14 million units, according to the National Association of...(read more)

Existing Home Sales Pick Up 5.5% to 5.18 Million in September

CEP News Feed — Fri, 24 Oct 2008 14:19:23 GMT

Existing home sales rose more than expected to an annualized pace of 5.18 million units in September, a 5.5% advance in the month, following August's unrevised sales pace of 4.91 million units, according to the National Association of Realtors (NAR...(read more)

Existing Home Sales Fall 2.2% to 4.91 Million in August

CEP News Feed — Wed, 24 Sep 2008 14:12:56 GMT

Existing home sales fell slightly more than expected to an annualized pace of 4.91 million units in August, a 2.2% decrease in the month, following July's upwardly revised sales figure of 5.02 million. Even with a bigger loss than expected, the range...(read more)

Existing Home Sales Rise 3.1% to 5.00 Million in July

Glenn Setzer — Mon, 25 Aug 2008 11:00:00 GMT

U.S. existing home sales rose more than expected to 5.00 million units in July, a 3.1% gain in the month, following June's revised sales figure of 4.85 million. With that gain the index rebounded to the highest level in five months, although the range in the past 11 months has been relatively narrow, according to the National Association of Realtors (NAR).

...(read more)

The Week Ahead: U.S. Housing Sales, Case-Shiller Home Prices

Glenn Setzer — Mon, 25 Aug 2008 11:00:00 GMT

Economists, strategists and traders do not expect next week's releases to shed any new light on the current economic environment. Markets will receive more data on the U.S. housing market, July's durable goods orders, PCE report, and minutes from the FOMC Aug. 5 meeting. In Canada the only data of significance will be Q2 GDP.

In other U.S. releases, markets will receive regional manufacturing data with the Richmond Fed manufacturing survey and the ISM Chicago PMI, preliminary second quarter GDP and two-year and five-year note auctions.

...(read more)

Existing Home Sales Don't Signal Market Normalization, Economists Say

Glenn Setzer — Mon, 25 Aug 2008 11:00:00 GMT

Economists say the larger-than-expected rise in July existing home sales doesn't necessarily point towards stabilization, since more than a third of the sales are related to foreclosures. They also note that a record high inventory level will put downward pressure on prices going forward.

...(read more)

Existing Home Sales Fall 2.6% to 4.86 Million in June

Glenn Setzer — Thu, 24 Jul 2008 11:00:00 GMT

U.S. existing home sales fell 2.6% to 4.86 million units in June following May's unrevised sales figure of 4.99 million. This is the fourth month home sales have remained under the five million mark, according to the National Association of Realtors (NAR).

...(read more)