Existing-Home Sales Rise in February to Highest Level Since Last April
Existing-home sales rose
a strong 3.9% to annual rate1 of 6.69 million units in February following a healthy gain in January, reaching the highest level since last April,
according to the National Association of Realtors. The national median existing-home price for all housing types was $212,800 in February, down 1.3 percent from February 2006 when the median was $215,700.
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Home-price increase of 1.3% was the
slowest pace in more than 10 years in the 12 months ending in November,
according to S&P/Case-Shiller
home-price index by MacroMarkets
and Standard & Poor's.
New
home sales jumped 4.8% in December to a seasonally adjusted annual rate of
1.12 million homes, 
Total
existing-home sales declined 0.8% to a seasonally adjusted annual rate1 of
6.22 million units in December from 6.27 million in November, 
Here
is a quick summary of today's key economic indicators: CPI up 2.5% in
2006, the best showing since 2003; New Home Constructions in December rose
4.5%; Initial jobless claims last week fell 8,000.
A
very interesting observation on the housing sector from 
Here
is a quick summary of the key U.S. economic indicators released today: ISM
Manufacturing Index jumped; Construction spending edged down; U.S. chain
store sales increased 0.3% last wee; Mortgage applications rose 3.6% in
December; and ADP employment report shows decline in private sector
employment.
This
week saw a slew of good economic indicators in U.S., as consumer
confidence jumped at an 8 month high, new homes sales and existing homes
sales showing positive turns, and the job market resilient with only 1,000
rise in jobless claims.
Construction
of new homes and apartments increased by 6.7% in November to a seasonally
adjusted annual rate of 1.588 million units, while applications for
permits to build new homes fell for a 10th consecutive month, according to
data from The U.S. Census Bureau.
Overall construction spending in U.S. fell 1% in October to $1.178
billion, the sharpest fall in more than five years (since September 2001),
