9/21: MetroIntelligence Econ Update,P.DUFFY

August existing home sales steady after four months of decline

Existing-home sales remained steady in August at 5.34 million units per year after four straight months of decline.  Sales were still down 1.5 percent year-on-year.

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Realtor.com

 

August Leading Economic Index rose to highest level in over 12 years

The Conference Board Leading Economic Index® (LEI) for the U.S. increased 0.4 percent in August to 111.2 (2016 = 100), following a 0.7 percent increase in July, and a 0.5 percent increase in June. The leading economic index is now well above its previous peak (March 2006, 102.4).

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Conference Board

 

August new home mortgage applications fell 4.6 percent from July, down 2.0 percent year-on-year

Mortgage applications for new home purchases decreased 4.6 percent compared to August 2017. Compared to July 2018, applications decreased by two percent.

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MBA