Category: U.S. Economy
Update USA Housing – Revised
Housing improved overall in March. Purchases of new, single-family homes increased by 5.8% to an annual rate of 621,000 units. Compared to last year at this time, purchases are up 15.6%. The median sale price for a new home rose 1.2% in March to $315,000. Existing home prices increased 5.6% according to the National Association of Realtors. Inventory is down to 3.8 months. A “normal” market generally has 6.0 months available. New home construction rate is now at 1.2 million units annually. Overall, housing is continuing a favorable long-term direction and in line with our expectations.
Update USA Housing
Housing improved overall in March. Purchases of new, single-family homes increased by 5.8% to an annual rate of 621,000 units. Compared to last year at this time, purchase are 15.6%.
The median sale price for a new home rose 1.2% in March to $315,000.
Update USA Consumer Confidence
Consumer confidence dropped 4.6 percentage points to 120.3 from 124.9 in April. This remains a good number considering the previous month, March, was a sixteen-year high. Confidence is much higher than it was last year.
Update USA Housing
Housing starts declined in March on a seasonally adjusted basis by 6.8%. This is not as dramatic as appears on the surface given that February was a record high since October 2007. On an annual basis, starts are up 8.7%.
Update USA Inflation – Food
Agriculture related stock companies will be enjoying stable material prices in the foreseeable future. Raw materials will not be contributing to inflation with most areas seeing increases in product inventories. Prices should remain at current prices with some areas, such as soybean experiencing declines.