U.S. Existing Home Sales Unexpectedly Extend Pullback In April

RTTNews | 868 hari yang lalu
U.S. Existing Home Sales Unexpectedly Extend Pullback In April

(RTTNews) - Existing home sales in the U.S. unexpectedly saw further downside in the month of April, according to a report released by the National Association of Realtors on Wednesday.

NAR said existing home sales slumped by 1.9 percent to an annual rate of 4.14 million in April after tumbling by 3.7 percent to a revised rate of 4.22 million in March.

Economists had expected existing home sales to rise by 0.5 percent to an annual rate of 4.21 million from the 4.19 million originally reported for the previous month.

With the unexpected decrease, existing home sales continued to give back ground after surging to a one-year high of 4.38 million in February.

Meanwhile, the report said total housing inventory surged to 1.21 million units at the end of April, up 9.0 percent from 1.11 million units in March and up 16.3 percent from 1.04 million units a year ago.

The unsold inventory represents 3.5 months of supply at the current sales pace compared to 3.2 months in March and 3.0 months in April 2023.

NAR also said the median existing home price spiked 5.7 percent to $407,600 in April from $385,800 in the same month last year.

"Home prices reaching a record high for the month of April is very good news for homeowners," said NAR Chief Economist Lawrence Yun. "However, the pace of price increases should taper off since more housing inventory is becoming available."

On Thursday, the Commerce Department is scheduled to release a separate report on new home sales in the month of April.

Economists currently expect new home sales to pull back by 1.9 percent to an annual rate of 680,000 in April after soaring by 8.8 percent to a rate of 693,000 in March.

baca selengkapnya
Fed Minutes Reveal Officials Expect Another Rate Hike This Year

Fed Minutes Reveal Officials Expect Another Rate Hike This Year

Most Federal Reserve officials expect to once again raise interest rates before the end of the year, according to the minutes of the central bank's September monetary policy meeting released on Wednesday. The Fed said, "Most participants assessed that another increase in the target range for the federal funds rate would likely be appropriate by year end."
RTTNews | 1 jam 29 menit yang lalu
U.S. Trade Deficit Widens To Seventeen-Month High In August

U.S. Trade Deficit Widens To Seventeen-Month High In August

A report released by the Commerce Department on Tuesday showed the U.S. trade deficit widened by more than expected in the month of August. The Commerce Department said the trade deficit increased to $105.6 billion in August from a revised $92.8 billion in July.
RTTNews | 1 hari yang lalu
U.S. Services Index Indicates Modestly Slower Growth In September

U.S. Services Index Indicates Modestly Slower Growth In September

A report released by the Institute for Supply Management on Monday showed a modest slowdown in the pace of growth in U.S. service sector activity in the month of September. The ISM said its services PMI dipped to 54.9 in September after rising to 55.4 in August, although a reading above 50 still indicates growth. Economists had expected the index to edge down to 55.0.
RTTNews | 2 hari yang lalu
U.S. Factory Orders Inch Up In Line With Estimates In August

U.S. Factory Orders Inch Up In Line With Estimates In August

A report released by the Commerce Department on Friday showed a slight uptick in new orders for U.S. manufactured goods in the month of August. The Commerce Department said factory orders crept up by 0.1 percent in August after climbing by a downwardly revised 0.8 percent in July.
RTTNews | 5 hari yang lalu
U.S. Employment Rises By 29,000 Jobs In September, Much Less Than Expected

U.S. Employment Rises By 29,000 Jobs In September, Much Less Than Expected

The Labor Department released a closely watched report on Friday showing employment in the U.S. increased by much less than expected in the month of September. The report said non-farm payroll employment rose by 29,000 jobs in September after jumping by a downwardly revised 133,000 jobs in August. Economists had expected employment to increase by 85,000 jobs.
RTTNews | 5 hari yang lalu
U.S. Construction Spending Unexpectedly Increases In August

U.S. Construction Spending Unexpectedly Increases In August

A report released by the Commerce Department on Thursday showed an unexpected increase in U.S. construction spending in the month of August. The Commerce Department said construction spending climbed by 0.9 percent to an annual rate of $2.203 trillion in August after edging down by 0.1 percent to a revised rate of $2.185 trillion in July.
RTTNews | 6 hari yang lalu