New home sales in April rose for the first time in five months, increasing 3.3% to 526k following a downward revision of the March reading to 509k. The previous month's reading was previously reported as 526k, which was the lowest level since October 1991. Economists had expected a reading of 523k. The...
New home sales in the U.S. were down for the fifth consecutive month in March, falling by 8.5% to 526k, much lower than the 580k level expected by economists, and setting a new low since October 1991. Inventories soared from already-worrying levels. This follows a downwardly revised reading of 575k in...
As the overhang of new homes sits at a 27-year high of 9.8 months, new home sales are expected to fall for a fifth consecutive month in the March index from the U.S. Census Bureau on Thursday. In February's report, sales fell 1.8% to a seasonally adjusted annual rate of 590K, contributing to an almost...
Economists will be paying attention to this month's U.S. housing data in hopes of finding a bottom in the market. Before that, however, the focus will be in Canada on the Bank of Canada's interest rate decision. On Tuesday, the BOC will hold its regular monetary policy meeting. Economists are in agreement...
Freddie Mac's August 2005 Economic Outlook report issued this week states that "The brightest light in the U.S. economy continues to be the housing sector." The report notes that new records were achieved in June for sales of both new and existing houses and sales and are running six percent higher during...