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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 Prices Grow at Slowest Pace in 10 Years; Consumer ConfidenceĀ Up

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. 

Continue reading... "Home Prices Grow at Slowest Pace in 10 Years; Consumer ConfidenceĀ Up" »

New Home Sales Biggest Drop in 16 Years; Durables Orders Rose 3.1%

New home sales jumped 4.8% in December to a seasonally adjusted annual rate of 1.12 million homes, according to the U.S. Census Bureau. For the full year 2006, new home sales plunged 17.3%, the biggest drop in 16 years, to 1.06 million, down from the record 1.28 million in 2005.

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Economic Indicators: 8.4% Home Sales Drop Biggest in 17 Years; Online Job Ads Up 17%

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, according to the National Association of Realtors. Sales were down 7.9% in last year from 6.75 million-unit pace in December 2005.

Continue reading... "Economic Indicators: 8.4% Home Sales Drop Biggest in 17 Years; Online Job Ads Up 17%" »

US Economic Indicators for Today: CPI Best Showing Since 2003; Housing Starts Up 4.5%

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. 

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Private Residential Spending Hit 50 Year High as Pct. of GDP Last Year... And Now the Record Decline

A very interesting observation on the housing sector from CrossWallStreet blog, with a graph showing private residential investment as a percentage of GDP over the last 50 years. Comparing with GDP over a period of time is a very good gauge of  most economic indicators. 

Continue reading... "Private Residential Spending Hit 50 Year High as Pct. of GDP Last Year... And Now the Record Decline" »

Key U.S. Economic Indicators for Today: ISM Up; Construction Spending Down

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. 

Continue reading... "Key U.S. Economic Indicators for Today: ISM Up; Construction Spending Down" »

U.S. Economic Indicators This Week: Home Sales Up; Confidence Rose; Jobs Strong

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. 

Continue reading... "U.S. Economic Indicators This Week: Home Sales Up; Confidence Rose; Jobs Strong" »

Building Permits Fell Over 31% Since Last November

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.

Continue reading... "Building Permits Fell Over 31% Since Last November" »

U.S. Construction Spending Falls Sharpest Since Sep. 2001

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), according to latest data from the Commerce Department. 

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