New Home Sales for February fell by 2.2% to a 308,000 annual pace, following a 315,000 pace in January, revised from 309,000. Over the year, New Home Sales are down 13% from 354,000 in February of 2009. The median sales price was $220,500 and the average sales price was $282,600. The estimate of new houses for sale at the end of February was 236,000, representing a supply of 9.2 months at the current sales rate.
Crude inventories increased by 7.3 million barrels, for the week ending March 19, from the previous week to 351.3 million barrels and were above the upper limit of the average range for that time of year. U.S. crude oil refinery inputs averaged 14.0 million barrels per day during this period, 102 thousand barrels per day above the previous week’s average. U.S. crude oil imports were averaging 9.4 million barrels per day, up 969 thousand barrels per day from the previous week.
Upcoming Releases
Initial Claims (03/25 at 8:30 AM EST)
GDP Q4 Final (03/26 at 8:30 AM EST)
Personal Consumption Expenditures (03/29 at 8:30 AM EST)
Case/Shiller Home Price Indices (03/30 at 9:00 AM EST)
