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Pending home sales drop for first time in nearly 2 years

New data from the National Association of Realtors, released this morning, says that May's pending home sales actually declined year-over-year for the first time in nearly two years. The reason? This competitive seller's market continues leaving inventory in a sad state....

Stocks Recover Half Brexit Losses... But Bonds Ain't Buying It

Dow futures are now 500 points off the post-Brexit lows, having retraced half the losses...despite the worst home sales in 6 years. Just one small problem, Treasury yields are plumbing new post-Brexit lows... Dow bounce... S&P bounce... But bonds ain't buying it... Trade accordingly.

Here’s Why Housing “Recovery” Not As It Appears

“Pace of U.S. New Home Sales Slows in May” was the Wall Street Journal’s headline on the Census Bureau’s report released last week. But the body of the article had an entirely different tone, exemplified by “Broadly, other data showShow More Summary

BuilderBytes' MetroIntelligence Economic Update for 6/24/16

Please click here to see the edition of BuilderBytes for 6/24/16 on the Web. In this issue of the MetroIntelligence Economic Update, I covered the following indicators: May new home sales dipped 6.0 percent from April but still up 8.7...Show More Summary

May new home sales dipped 6.0 percent from April but still up 8.7 percent year-on-year

Sales of new single-family houses in May 2016 were at a seasonally adjusted annual rate of 551,000. This is 6.0 percent below the revised April rate of 586,000, but is 8.7 percent above the May 2015 estimate of 507,000. READ MORE www.metrointel.com

Here’s How Bad US New Home Sales Are

The Census Bureau’s monthly update on new US home sales for May had lots of interesting data buried between the lines. I’ll touch on a few things here, with more to come in a subsequent post. First, while prices rose only 1% year over...Show More Summary

Economic Statistics for 23 Jun 16

New home sales fell -6.0% in May to a 551,000 annual rate. The Chicago Fed National Activity Index fell to -0.51 in May, from the previous month’s 0.10. The 3-month moving average fell to -0.36. The PMI Manufacturing Index Flash rose from 50.5 to 51.4 in June. The Conference Board’s index of leading economic indicators fell […]

New Home Sales Plunge Most In 8 Months Following Sharp Downward Revisions; Median Home Price Tumbles

Despite exuberance in existing home sales, new home sales just printed 551k SAAR - missing expectations for the first time since Oct 2015 - sliding by the most since Sept 2015. With the last 3 months of exuberant increases - to 8 year...Show More Summary

U.S. new home sales drop from eight-year high

WASHINGTON, (Reuters) - New U.S. single-family home sales fell in May from a more than eight-year high amid weakness in three regions, but the overall housing market remains intact. The Commerce Department said on Thursday new home sales dropped 6.0 percent to a seasonally adjusted annual rate of 551,000 units. Show More Summary

New Home Sales decreased to 551,000 Annual Rate in May

The Census Bureau reports New Home Sales in May were at a seasonally adjusted annual rate (SAAR) of 551 thousand. The previous three months were revised down by a total of 55 thousand (SAAR)."Sales of new single-family houses in May 2016 were at a seasonally adjusted annual rate of 551,000, according to estimates released jointly today by the U.S. Show More Summary

Here come new home sales ...

The Census Bureau will release data on new home sales during May at 10 a.m. ET. Economists forecast that sales fell 9.5% at a seasonally adjusted annual rate of 560,000, according to Bloomberg. Via Bank of America Merrill Lynch: "We think new home sales will fall by 5%, to 585K, in May, partly reversing the strong 16.6% increase in April. Show More Summary

Thursday: New Home Sales

Thursday:• At 8:30 AM ET, The initial weekly unemployment claims report will be released. The consensus is for 270 thousand initial claims, down from 277 thousand the previous week.• Also at 8:30 AM, Chicago Fed National Activity Index for May. Show More Summary

Kylie Jenner puts her glammed-up starter home in Calabasas up for sale

6 days agoHealth : Booster Shots

Wardrobe changes, love interests, homes — who can keep up with the Kardashian-Jenner clan? After buying a new $6.025-million house in Hidden Hills, 18-year-old Kylie Jenner has put her starter house in Calabasas up for sale at $3.9 million. Purchased a year ago for $2.6 million, the young “Keeping...

Trump relinquishes property tax break

We're still waiting for Donald J. Trump's federal tax returns, but we have received some clarification on his New York condo's property tax bill. This isn't The Donald's Big Apple home, but another apartment for sale with similar views in New York City's Trump Tower. Show More Summary

This $28.5 million mansion is now the most expensive home for sale in San Francisco

There's a new most expensive home in San Francisco. Following the $3 million price cut of 2250 Vallejo, a stunning, 14,360-square-foot home on Scott Street is now the city's priciest, Curbed SF reported. It's listed for $28.5 million — and it's easy to see why. Show More Summary

New Manchester United home kit being sold in Delhi (Video)

New Manchester United home kit on sale in Delhi Manchester United home kit for 2016/2017 on sale in India Footage has emerged of the Manchester United home kit for next season, weeks before it is officially released, since it is now on sale in Delhi, India. Manchester United’s blue away strip for 2016/2017 was released […]

Schedule for Week of June 19, 2016

The key economic reports this week are New and Existing Home Sales for May.Fed Chair Janet Yellen will deliver the Semiannual Monetary Policy Report to the Congress on Tuesday and Wednesday. ----- Monday, June 20th ----- No economic releases are scheduled. Show More Summary

Shopping for Earthquake Shacks in San Francisco: Homes housing the homeless after the 1906 earthquake now up for sale at ridiculous prices.

We have now gone full circle when it comes to California real estate.  The San Francisco housing market is blistering hot with all common sense being flushed down the Twitter tubes.  While the idea of “tiny houses” seems like a new thing, this already happened over 100 years ago although by a force more powerful […]

Top 10 most expensive DC homes for sale right now

MRIS recently released its list of the most expensive homes currently listed on the MLS in Washington D.C. and its surrounding suburbs. Some homes are new to the MLS and others have been listed for several years. With historic mansions and city homes ranging from just below $10 million to $18 million, these are D.C.'s most expensive homes for sale right now...

Good News: Demi Moore's Manhattan Dream Home Is ON SALE—Prices Slashed!

When Demi Moore's San Remo triplex overlooking Central Park went on the market for $75 million, we passed. It's a beautiful piece of historic New York City real estate, sure, but ultimately we decided that it would cause too much pain in the end. Show More Summary

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