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Existing Home Sales down by 2.3%

Total existing-home sales, dipped 2.3 percent to a seasonally adjusted annual rate of 5.57 million in April from a downwardly revised 5.70 million in March. Despite last month's decline, sales are still 1.6 percent above a year ago and at the fourth highest pace over the past year. Lawrence Yun, NAR chief economist, says every major region except for the Midwest saw a retreat in existing sales in April.

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New Home Sales dropped in April

Sales of newly constructed homes stumbled in April, as builders retreated after a March surge that marked the strongest selling pace in a decade. New-home sales ran at a seasonally adjusted annual rate of 569,000, the Commerce Department said Tuesday. Read more...

USD - Major events in the week ahead

Events that marked the week:

On Monday Empire State Manufacturing Index figures were released. Business activity leveled off in New York State, according to firms responding to the May 2017 Empire State Manufacturing Survey. The headline general business conditions index fell six points to -1.0. The new orders index dropped to -4.4, suggesting a small decline in orders, and the shipments index edged down to 10.6, indicating that shipments increased at a slightly slower pace than in April.

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Philly Fed Manufacturing Index increased to 38.8

The index for current manufacturing activity in the region increased from a reading of 22.0 in April to 38.8 this month. The index has been positive for 10 consecutive months. This month, the index recovered some of the declines of the previous two months, but it still remains slightly below its high reading of 43.3 in February.

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