- March existing home sales increased 5.1% to an annualized rate of 6,330 thousand units. The March figure was 1.5% above the March 2015 figure. The median sales price of existing houses sold was $222.7 thousand, 5.7% above March 2015. There were 1,980 thousand homes for sale at the end of the month. This represents a supply of 4.5 months at the current sales rate, compared to 4.6 in March of 2015.
- Housing starts in March were down 8.8% from the previous month, but were up 14.2% from a year ago. Building permits were down 7.7% from the previous month, but were up 4.6% from a year ago.
- The housing market index of National Association of Home Builders (NAHB) and Wells Fargo was unchanged at 58 in April. The index was 61 in January of 2016, and 56 in April of 2015.
- U.S. House prices rose 0.4% on a seasonally adjusted basis from January to February, according to the Federal Housing Finance Agency’s (FHFA). For the 12 months ending in February, U.S. prices rose 5.6%.
- The results of Freddie Mac’s Primary Mortgage Market Survey showed average fixed mortgage rates were virtually unchanged from the previous week. 30-year fixed-rate mortgage averaged 3.59% for the week ending April 21, up slightly from last week when it averaged 3.58%. A year ago this time, the 30-year fixed-rate averaged 3.65%. 15-year fixed-rate mortgage averaged 2.85% for the week ending April 21, down slightly from last week when it averaged 2.86%. A year ago this time, the 15-year fixed-rate averaged 2.92%.
- Mortgage applications increased 1.3% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending April 15th.
- The advance figure for initial claims for unemployment insurance decreased 6 thousand to 247 thousand in the week ending April 16. This was the lowest level since November 24, 1973 when it was 233 thousand. The 4-week moving average was 260.5 thousand, a decrease of 4.5 thousand from the previous week’s average.
- The Philadelphia FED business outlook survey for April reported a lower value for the index of manufacturing activity in the region. The indicator for general activity, which rose sharply to 12.4 in March, fell to negative 1.6 in April.
- The Conference Board index of leading economic indicators increased 0.2% in March, following a decrease of 0.1% in the previous month. Over the six-month span through March, the leading index increased 0.7%, with five out of ten components advancing. The Conference Board coincident economic index held steady in March, following a 0.1% increase in the previous month. Over the six-month span through March, the coincident index increased 0.6%, with three out of four components advancing.
- The Chicago FED National Activity Index decreased to negative 0.44 in March, from negative 0.11 in February. The index’s three-month-moving average decreased to negative 0.18 in March, from negative 0.11 in February, indicating a growth rate below its historical trend and a subdued inflationary pressures.
- The Chicago FED National Financial Conditions Index was unchanged from the previous week.
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