May new home sales proved to be a solitary bright spot in a month of otherwise disappointing housing reports, rising by nearly 11 percent from April, HUD and the Census Bureau reported Friday.
Tag: Wells Fargo Economics
Existing Home Sales Fall 4th Straight Month; Median Sales Price Breaks $400,000
May existing home sales fell by 3.4 percent from April, marking the fourth consecutive monthly decline, the National Association of Realtors reported Tuesday.
May Housing Starts Plunge Amid Market Volatility
Housing starts fell sharply in May, HUD and the Census Bureau reported Thursday, as continued market volatility and higher interest rates took a toll on both consumers and home builders.
Inflation Still Too High for Consumers—and Fed
Inflation showed no signs of letup in May, the Bureau of Labor Statistics reported Friday, with analysts all but guaranteeing large interest rate hikes by the Federal Reserve this week and in the coming months.
Employers Add 390,000 May Jobs; Unemployment Rate Holds at 3.6%
Employers added nearly 400,000 jobs in May, largely meeting expectations, the Labor Department reported Friday. The unemployment rate held at 3.6 percent for the third straight month.
April Construction Edges Up
Construction spending improved slightly in April, by 0.2 percent from March—but below expectations., the Census Bureau reported Wednesday.
Job Openings Hold at Near-Record Highs; Another 4.4 Million Quit
Nearly 4.4 million Americans quit their jobs in April, keeping U.S. job openings at a near-record 11.4 million, the Bureau of Labor Statistics reported Wednesday.
Inflation, Rising Interest Rates Cool Consumer Confidence
The Conference Board, New York, said its Consumer Confidence Index decreased slightly in May, following a small increase in April.
Mixed Bag as 1Q GDP Revises to -1.5%
Real gross domestic product decreased at an annual rate of 1.5 percent in the first quarter, according to the “second” (revised) estimate Thursday by the Bureau of Economic Analysis.
April New Home Sales Fall to 2-Year Low
New home sales in April suffered double-digit percentage losses for the second consecutive month, falling to their lowest level since June 2020, HUD and the Census Bureau reported Tuesday.