Weekly Economic Review: New Single Family Homes sales up 11.6% in December

Posted by Laine Smith on 1/31/15 8:24 AM

Topics: Economy

The big housing news for the week was the data on New Single Family Homes Sales which rose 11.6% in December. Stocks took a dive, dropping 2.77% this past week. Mortgage rates continued to move lower with a 12 basis point drop (0.12%) from the week prior. 

02-02-2015

Last week in the economy:

  • The S&P 500 started the week at 2,052 and dropped 2.77% to end the week at 1,995
  • Mortgage rates (The national average) dropped 0.12% (12 basis points) last week. 
  • The first estimate for Q4 Real GDP growth is 2.6% at an annual rate. Real GDP is up 2.5% from a year ago
  • New Orders for Durable Goods declined 3.4% in December. Orders are up 0.3% from a year ago. 
  • New Single Family Home Sales were up 11.6% in December. Sales are up 8.8% from a year ago. 

 

What's on the economic calendar for the week of February 2, 2015:

  • Monday: The ISM Manufacturing Index will be released
  • Thursday: International Trade and Jobless claims will be released
  • Friday: The employment situation will be released

 

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Our trusted source for all economic news is First Trust Portfolios out of Wheaton, IL. For greater insights on these figures check out their blog here.

 

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