by sslifer | Jun 27, 2022 | Housing, NumberNomics Notes
June 27 2022 Pending home sales rose 0.7% in May to 99.9 after having declined 4.9% in April and 1.6% in March. Pending home sales are being impacted by the combination of both higher prices and rapidly rising mortgage rates. However, sales are being constrained by ...
by sslifer | Jun 27, 2022 | Industrial Production, NumberNomics Notes
June 27, 2022 Durable goods orders rose 0.7% in May after climbing 0.4% in April and 0.7% in March. This is the seventh increase in orders in the past eight months. In the past year durable goods orders have risen a steamy 10.6%. Frequently much of the change in...
by sslifer | Jun 24, 2022 | Commentary for the Week, NumberNomics Notes
June 24, 2022 The markets swing daily as the odds of recession rise or fall. Everybody is trying to figure out how high interest rates might need to go to bring inflation back down to the 2.0% mark. Keep in mind that a recession is characterized by declining...
by sslifer | Jun 24, 2022 | Housing, NumberNomics Notes
June 24, 2022 New home sales jumped 10.7% in May to 696 thousand after having shrunk by 12.0% in April The big increase in May on top of an upward revision to the April data paint a somewhat different picture of new home sales. Rather than showing sales dropping off...
by sslifer | Jun 23, 2022 | Employment, NumberNomics Notes
June 23, 2022 Initial unemployment claims fell 2 thousand in the week ending June 18 to 229 thousand after having declined 1 thousand in the previous week. The level has edged upwards in the past couple of weeks which is consistent with some of the recently reported...
by sslifer | Jun 21, 2022 | Housing, NumberNomics Notes
June 21, 2022 Existing home sales fell 3.4% in May to 5,410 thousand after declining 2.6% in April, 3.0% in March and 8.6% in February, after rising by 6.6% in January. It appears that potential buyers rushed to buy in January before mortgage rates and home prices...
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