Weekly Economic Review: New Single Family Home Sales Are Up 5.3% From A Year Ago

Posted by Laine Smith on 2/27/15 5:06 PM

Topics: Economy

It was a busy week with lots of economic news released. The stock market remained nearly flat for the week while the national average for mortgage rates dipped another 7 basis points. The CPI declined 0.7% in January. New Single Family Homes and Existing Home Sales both declined in January but are up 5.3% from a year ago. 

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Last week in the economy:

  • The S&P 500 started the week at 2,110 and dropped 0.25% to end the week at 2,105.
  • Mortgage rates (The national average) fell 0.07% (7 basis points) last week. 
  • Real GDP was revised to a 2.2% annual growth rate in Q4 from a prior estimate of 2.6%
  • New orders for durable goods increased 2.8% in January. Orders are up 5.4% from a year ago. 
  • The CPI (Consumer Price Index) declined 0.7% in January. The CPI is down 0.1% from a year ago.
  • New Single Family Home Sales Declined 0.2% in January. Sales are up 5.3% from a year ago. 
  • Existing Home Sales Declined 4.9% in January. Sales are up 3.2% from a year ago. 

 

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

  • Monday: Personal Income and ISM Manufacturing will be released
  • Thursday: Jobless Claims will be released
  • Friday: The Employment Situation and International Trade 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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