Opinions Uncensored

Lawler: Early Read on Existing Home Sales in May

From housing economist Tom Lawler: Early Read on Existing Home Sales in MayBased on publicly-available local realtor/MLS reports from across the country released through today, I project that existing home sales as estimated by the National Association of Realtors ran at a seasonally adjusted...

NAHB: Builder Confidence Decreases to 68 in June

The National Association of Home Builders (NAHB) reported the housing market index (HMI) was at 68 in June, down from 70 in May. Any number above 50 indicates that more builders view sales conditions as good than poor.From NAHB: Builder Confidence Slips Two Points as Lumber Prices SoarBuilder...

Sunday Night Futures

Weekend:• Schedule for Week of June 17, 2018Monday:• 10:00 AM ET, The June NAHB homebuilder survey. The consensus is for a reading of  70, unchanged from 70 in May. Any number above 50 indicates that more builders view sales conditions as good than poor.From CNBC: Pre-Market Data and Bloomberg...

Oil Rigs: "A quiet week for rigs counts"

A few comments from Steven Kopits of Princeton Energy Advisors LLC on June 15, 2018:• Total oil rig counts rose 1 to 863• Horizontal oil rigs added 2 to 765...• After a heady gain last week, the Permian gave back 4 rigsClick on graph for larger image.CR note: This graph shows the US horizontal...

Schedule for Week of June 17, 2018

The key economic reports this week are May Housing Starts and Existing home sales.For manufacturing, the Philly Fed manufacturing survey will be released this week.----- Monday, June 18th -----10:00 AM: The June NAHB homebuilder survey. The consensus is for a reading of  70, unchanged from 70...

Goldman: "Upside Risk to Home Prices"

This is an interesting note today from Goldman Sachs economists Daan Struyven and Marty Young: Upside Risk to Home Prices (A few excerpts):Home prices are growing at a 6.5% annual rate, the fastest pace since 2013. ... we review trends in housing demand, supply, and financing fundamentals and...

Q2 GDP Forecasts

From Merrill Lynch:The data weighed on GDP tracking, with 1Q edging down to 2.4% qoq saar. 2Q held at 3.7%. [June 15 estimate].emphasis addedAnd from the Altanta Fed: GDPNowThe GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2018 is 4.8...