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New-Home Sales Slid 8.1% in June, Stirring Up a Growth Headwind

DA60

DA60

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U.S. Housing Recovery Failing to Build Momentum

'The market for newly built homes weakened in the first half of the year, a development that's likely to impede economic growth and could hold back job creation in 2014.

Sales of new single-family homes are down 4.9% through the first six months of the year compared to the same period of 2013, according to Commerce Department data released Thursday.

June sales fell 8.1% from May to a seasonally adjusted annual rate of 406,000. The reading was well below expectations. Economists surveyed by The Wall Street Journal had predicted a June sales pace of 475,000. Meanwhile, May sales were revised down to a rate of 442,000 from a previously estimated 504,000. The initial May reading would have been the strongest pace since the recovery began, but the revised figure isn't even the best of the year.

New-Home Sales Tumbled in June - WSJ


Over 1/2 a million full time jobs lost in June (for 799K part time jobs gained), trade deficit rising, new home sales fall hard, inflation over Fed mandate...so much for the 'it's the weather' excuse.
 
DA60 said:
U.S. Housing Recovery Failing to Build Momentum

'The market for newly built homes weakened in the first half of the year, a development that's likely to impede economic growth and could hold back job creation in 2014.

Sales of new single-family homes are down 4.9% through the first six months of the year compared to the same period of 2013, according to Commerce Department data released Thursday.

June sales fell 8.1% from May to a seasonally adjusted annual rate of 406,000. The reading was well below expectations. Economists surveyed by The Wall Street Journal had predicted a June sales pace of 475,000. Meanwhile, May sales were revised down to a rate of 442,000 from a previously estimated 504,000. The initial May reading would have been the strongest pace since the recovery began, but the revised figure isn't even the best of the year.

New-Home Sales Tumbled in June - WSJ


Over 1/2 a million full time jobs lost in June (for 799K part time jobs gained), trade deficit rising, new home sales fall hard, inflation over Fed mandate...so much for the 'it's the weather' excuse.
Click to expand...

Who needs a new home with all those used one for cheap?
 
But Jobless claims have fallen to a all time low since 2006....

No, those Housing numbers have to be wrong.

I think what they meant to say that new home sales GREW a récord 81.1 percent in one month
 
Threegoofs said:
Of course, two days ago:

U.S. housing turning the corner, inflation creeping up | Reuters

Housing resales have hit an eight month high (sending homebuilder stocks up). But I guess when one wants to look at a half-full glass and pretend its empty, one misses the big picture.
Click to expand...
Resales have little to do with new home sales. You can sell the same home 3 times in a month and it helps the resale figures but does nothing for new home sales.

New home sales create construction PLUS manufacturing of all those appliances and heating/AC systems and all the other goodies that go into new home constructions.

And god knows where you are getting your goofy jobs numbers.

June jobs report: Hiring is strong and wages are rising - Jul. 3, 2014
Click to expand...

I got those numbers from that 'goofy' organization called the Bureau of Labor Statistics...household survey

Table A-9. Selected employment indicators

4th and 5th lines from the bottom.
 
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DA60 said:
U.S. Housing Recovery Failing to Build Momentum

'The market for newly built homes weakened in the first half of the year, a development that's likely to impede economic growth and could hold back job creation in 2014.

Sales of new single-family homes are down 4.9% through the first six months of the year compared to the same period of 2013, according to Commerce Department data released Thursday.

June sales fell 8.1% from May to a seasonally adjusted annual rate of 406,000. The reading was well below expectations. Economists surveyed by The Wall Street Journal had predicted a June sales pace of 475,000. Meanwhile, May sales were revised down to a rate of 442,000 from a previously estimated 504,000. The initial May reading would have been the strongest pace since the recovery began, but the revised figure isn't even the best of the year.

New-Home Sales Tumbled in June - WSJ


Over 1/2 a million full time jobs lost in June (for 799K part time jobs gained), trade deficit rising, new home sales fall hard, inflation over Fed mandate...so much for the 'it's the weather' excuse.
Click to expand...

Discouragingly bad for America.
 
DA60 said:
U.S. Housing Recovery Failing to Build Momentum
Click to expand...
Aren't you the same guy who argues against having overheated housing sales?

I just can't keep up with con argument.

Lets try some historical perspective:

DistressingGapJune2014.jpg
 
Not sure what the point of this thread is. Are you using this data to argue that we're on the verge of another recession? Or just hammering on people that are arguing that we are recovering from the previous recession?
 
DA60 said:
Resales have little to do with new home sales. You can sell the same home 3 times in a month and it helps the resale figures but does nothing for new home sales.

New home sales create construction PLUS manufacturing of all those appliances and heating/AC systems and all the other goodies that go into new home constructions.



I got those numbers from that 'goofy' organization called the Bureau of Labor Statistics...household survey

Table A-9. Selected employment indicators

4th and 5th lines from the bottom.
Click to expand...

Resales are still creating significant economic activity though.

That part time /full time thing is odd. A definite anomaly. If the trend continues, thats not good, but I'd wait for future months and to see how that number gets revised. One anomalous datapoint is probably not a great indicator of anything.

I bet you've been cheering the Obama administration on since 2010 as that number has been steadily falling though, right?

Full-Time-vs-Part-time-16-plus-since-2000.gif



The Part-Time Employment Ratio: A Curious Anomaly in June
 
Threegoofs said:
Resales are still creating significant economic activity though.

That part time /full time thing is odd. A definite anomaly. If the trend continues, thats not good, but I'd wait for future months and to see how that number gets revised. One anomalous datapoint is probably not a great indicator of anything.

I bet you've been cheering the Obama administration on since 2010 as that number has been steadily falling though, right?

Full-Time-vs-Part-time-16-plus-since-2000.gif



The Part-Time Employment Ratio: A Curious Anomaly in June
Click to expand...

So now that youve been corrected your'e willing to be objective ?
 
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Gimmesometruth said:
Aren't you the same guy who argues against having overheated housing sales?

I just can't keep up with con argument.

Lets try some historical perspective:

DistressingGapJune2014.jpg
Click to expand...


He's just trying to inject some much needed perspective into the discussion .

When you have ideologues cheering the " record low jobsless numbers " in another thread its important to counter that blind allegiance Obama lust with a bit of cold hard reality.
 
Threegoofs said:
Resales are still creating significant economic activity though.

That part time /full time thing is odd. A definite anomaly. If the trend continues, thats not good, but I'd wait for future months and to see how that number gets revised. One anomalous datapoint is probably not a great indicator of anything.

I bet you've been cheering the Obama administration on since 2010 as that number has been steadily falling though, right?

Full-Time-vs-Part-time-16-plus-since-2000.gif



The Part-Time Employment Ratio: A Curious Anomaly in June
Click to expand...

I cheer neither party...I despise them both.
 
DA60 said:
U.S. Housing Recovery Failing to Build Momentum

'The market for newly built homes weakened in the first half of the year, a development that's likely to impede economic growth and could hold back job creation in 2014.

Sales of new single-family homes are down 4.9% through the first six months of the year compared to the same period of 2013, according to Commerce Department data released Thursday.

June sales fell 8.1% from May to a seasonally adjusted annual rate of 406,000. The reading was well below expectations. Economists surveyed by The Wall Street Journal had predicted a June sales pace of 475,000. Meanwhile, May sales were revised down to a rate of 442,000 from a previously estimated 504,000. The initial May reading would have been the strongest pace since the recovery began, but the revised figure isn't even the best of the year.

New-Home Sales Tumbled in June - WSJ


Over 1/2 a million full time jobs lost in June (for 799K part time jobs gained), trade deficit rising, new home sales fall hard, inflation over Fed mandate...so much for the 'it's the weather' excuse.
Click to expand...

Thank you Mr. President! :roll:
 
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