U.S. June existing home sales fell 0.3 pct

Biz.Yahoo/Reuters ^ | July 25, 2003

[Starwind]

U.S. June existing home sales fell 0.3 pct Friday July 25, 10:13 am ET

 WASHINGTON, July 25 (Reuters) - The following is data on
U.S existing home sales from the National Association of
Realtors (News - Websites) (seasonally adjusted annual rates):
.                           June    May  (Prev)  June'02
 Units Sold (in mlns)       5.83   5.85   5.92      5.37
.                           June    May  (Prev) June03/02
 Units Sold, Pct Change     -0.3    0.9    1.2       8.6
.                           June    May  (Prev)  June'02
 Median Price (1,000s)     176.5  166.4  167.0     163.9
  Note--Median sales price is the midpoint where half the
homes sold for more and half for less.
.                           June    May  (Prev)  June'02
  Units Available (mlns)     2.50   2.36   2.30      2.26
  Months' Worth of Supply     5.1    4.8    4.7       5.1
  *Avg 30-Year Rate (Pct)    5.23   5.48   5.48      6.65
 Note--Avg. rate is the  Freddie Mac average commitment rate
for 30-year fixed-rate mortgages.
 Units Sold By Region, seasonally adjusted, in 1,000s:
.             June      May    (Prev)   June'02
 Northeast    650.0    680.0    680.0     630.0
 Midwest    1,290.0  1,330.0  1,350.0   1,170.0
 South      2,290.0  2,290.0  2,300.0   2,130.0
 West       1,600.0  1,550.0  1,590.0   1,440.0
  Median Price By Region, unadjusted, in 1,000s of dollars:
.             June     May    (Prev)   June'02
 Northeast    188.9    179.8    180.0     168.8
 Midwest      147.3    138.6    141.0     137.6
 South        166.4    154.0    154.3     155.9
 West         242.6    229.7    229.3     220.3
 FORECAST:
 Reuters survey of U.S. economists forecast:
 U.S. June existing home sales at 6.00 mln unit rate
 HISTORICAL COMPARISONS/NOTES:
 June inventory of existing homes at 2.50 million units was
highest since September 1991 (2.51 million)
 The June report reflects revisions to monthly seasonally
adjusted annual rates and inventories from 1989 forward as well
as updated modeling to seasonal adjustment factors.
 "Although some data has changed, the overall
characterization of the market is consistent with previously
reported data and there are no changes to annual sales totals
or home prices," NAR said.

[Starwind]

Fyi...

[Wright is right!]

Fell in the Northeast a bit, up in the South and West. Median sales price up across the board. Not a bad month. I'd take it. Besides, it's 0.2%, not 0.3%.

I'd call it a plus, since "units moved" are only slightly lower but aggregate prices paid was up.

Michael

[steveegg]

Taking the two reports together, there was a net "gain" in sales of roughly 320,000 units (of course, since both are "seasonally-adjusted), take this bit of math with as much salt as you can carry).

[kellynla]

New home sales up 4.7% in June.

[kellynla]

Oh, I see ya have it posted also. Excellent. I'll take a new one, sir! LOL

[Steven W.]

are you again immune from posting the exceptional Durable Goods data? the other day leading economic indicators were up big and were never posted, either ROFLMAO

[Starwind]

are you again immune from posting the exceptional Durable Goods data? the other day leading economic indicators were up big and were never posted, either ROFLMAO

U.S. June durable goods orders rose 2.1 pct

More of your scintillating analytic and research skills.

[arete]

More of your scintillating analytic and research skills.

Skills?

Richard W.

[Starwind]

Skills?

LOL! You are so right. But at the time I posted that, I didn't dream he could get worse

[arete]

Man, that guy is obsessed -- but better with you than me.:-)

Richard W.