June New Home Sales


Data Round-Up: New Home Sales Hit New Cycle-High

New home sales set a new cycle-high, home price appreciation is maintaining a solid, above-historical-trend pace, and Fed bank regional surveys picked up steam as the month drew to a close (and as Brexit receded in the distance). None of this will make the FOMC raise rates at this week’s meeting; another pause seems locked in (official statement to be released Wednesday afternoon). However, the discussion seems certain to take a more hawkish bent.

FMI Weekly Data Preview: July 25-29

The week started off well this morning as the Dallas Fed’s regional Texas manufacturing index firmed noticeably. The company outlook index rose +9 points for July; at -2, the index still shows some contraction, but this is its best showing since November. The rest of the Dallas survey detail was also looking up, e.g., a +9-point increase in the employment index to -2. Tuesday will feature another rash of Fed regional surveys from Philadelphia, Richmond and Dallas again (services). Kansas City Fed manufacturing on Thursday and the Chicago Purchasing Managers’ Index on Friday will finish the regional measures for the month.