Jan 6: Pending Home Sales Index at Record Low

 
Pending Home Sales fell by 4% to a record low index value of 82.3 (since 2001 when the series began) in November.  This follows a 0.7% decline in October.  The index was 89.8 in October 2007, was as high as 101.4 in June of 2007, and decreased by 5.3% over the past year as the housing market has been converging to equilibrate itself.  Current data does not reflect the impact of mortgage interest rates falling to 50 year lows in December. 

Lawrence Yun, NAR chief economist, said a weakening was inevitable. “Mounting job losses and very weak consumer confidence deterred home buyers from signing contracts in November,” he said. “December’s housing market activity could be comparably lower due to ongoing problems in the economy, so a real estate-focused stimulus plan is urgently needed.”

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ECONOMIC HIGHLIGHTS ARCHIVE

Feb 9: Wholesale Inventories - Wholesale Inventories today at 10:00 AM EST

on February 9, 2010

Feb 5: Unemployment Down to 9.7% - Unemployment Rate decreases to 9.7%; Nonfarm Payrolls unchanged; Consumer Credit today at 3:00 PM EST

on February 5, 2010

Feb 4: Nonfarm Productivity Up - Weekly Initial Claims increase to 480,000; 4-week moving average increased; Nonfarm Productivity up 6.2% in the 4th quarter; Unit Labor Costs down 4.4% in the 3rd quarter; Factory Orders today at 10:00 AM EST

on February 4, 2010

Feb 3: ISM Services Up - ISM Services Index increased to 50.5; Crude Inventories today at 10:30 AM EST

on February 3, 2010

Feb 1: ISM Index at 6 Year High - Personal Income, Disposable Personal Income up 0.4%; Construction Spending down 1.2%; ISM Manufacturing Index at highest level since August 2004

on February 1, 2010

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