New Home Sales for July decreased by 12.4% to a 276,000 annual pace, following a 315,000 pace in June, revised downwards from 330,000. Over the year New Home Sales are down 32.4% from 408,000 in July of 2009. The median sales price was $204,000 and the average sales price was $235,300. The estimate of new houses for sale at the end of July was 210,000, representing a supply of 9.1 months at the current sales rate.
Crude inventories increased by 4.1 million barrels, for the week ending August 20, from the previous week to 358.3 million barrels and were above the upper limit of the average range for that time of year. U.S. crude oil refinery inputs averaged 14.9 million barrels per day during this period, 348 thousand barrels per day below the previous week’s average. U.S. crude oil imports were averaging 9.9 million barrels per day, up by 320 thousand barrels per day from the previous week.
Upcoming Releases
Initial Claims (08/26 at 8:30 AM EST)
GDP Q2 Preliminary (08/27 at 8:30 AM EST)
Personal Consumption Expenditures (08/30 at 8:30 AM EST)
Consumer Confidence (08/31 at 10:00 AM EST)
GDP Q2 Preliminary (08/27 at 8:30 AM EST)
Personal Consumption Expenditures (08/30 at 8:30 AM EST)
Consumer Confidence (08/31 at 10:00 AM EST)
