2018 Economic Calendar
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New Home Sales  
Released On 3/23/2018 10:00:00 AM For Feb, 2018
PriorPrior RevisedConsensusConsensus RangeActual
New Home Sales - Level - SAAR593 K622 K620 K600 K to 660 K618 K

Highlights
New home sales came in near expectations, at a 618,000 annualized rate in February with upward revisions in the prior two months totaling 39,000. Despite the results, February sales are up only 0.5 percent year-on-year.

Prices, however, are showing traction, up 0.6 percent in the month to a median $326,800 which is up a very solid 9.7 percent year-on-year. And supply is moving into the market, up a monthly 2.0 percent to 305,000 units for a yearly increase of 16.0 percent. On a sales basis, supply is at a healthy 5.9 months vs 5.8 in January.

The Northeast has been coming on strongly in this report with sales up 19.4 percent in the month to a 37,000 annual rate and an 8.8 percent yearly gain. The South, which is by far the largest housing region, was also strong in the month, up 9.0 percent to 338,000 though this yearly gain is only 0.6 percent. The West fell a monthly 17.6 percent to a 164,000 rate for a year-on-year plus 3.1 percent with the Midwest down 3.7 percent in the month to 79,000 and an 8.1 percent yearly decline.

Sales, whether for new homes or existing, have been struggling to gain traction so far this year. But they did end last year on an up note and heavy weather always makes winter a tough time to judge for housing. But rising supply and a strong jobs market are pluses for the new home market going into the spring selling season which will help offset drag from rising mortgage rates.

Consensus Outlook
Supply has been moving into the market which should help new home sales for February where the annualized rate is expected to come in at 620,000 vs January's 593,000. New home sales surged at the end of last year and strength in February could boost confidence for extending strength into this year.

Definition
New home sales measure the number of newly constructed homes with a committed sale during the month. The level of new home sales indicates housing market trends and, in turn, economic momentum and consumer purchases of furniture and appliances.  Why Investors Care
 
[Chart]
There is no question that lower interest rates boost home sales. Other factors also impact housing decisions, such as employment and income growth, and wealth stemming from stock market gains.
Data Source: Haver Analytics
 
 

2018 Release Schedule
Released On: 1/252/263/234/245/236/257/258/239/2610/2411/2812/27
Release For: DecJanFebMarAprMayJunJulAugSepOctNov
 


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