8/30: MetroIntelligence Economic Update by P. DUFFY

July pending home sales decline 2.5 percent from June and 0.3 percent year-on-year

The Pending Home Sales Index decreased 2.5% to 105.6 in July, down from 108.3 in June. Year-over-year contract signings fell 0.3%, doing an about-face of the prior month’s increase.

https://www.nar.realtor/newsroom/pending-home-sales-decline-2-5-in-july

 

Q 2019 GDP growth slips to 2.0 percent in second estimate

GDP increased 2.0 percent in the second quarter of 2019, according to the “second” estimate released by the Bureau of Economic Analysis. The growth rate was 0.1 percentage point lower than the “advance” estimate released in July. In the first quarter, real GDP rose 3.1 percent.

https://www.bea.gov/data/gdp/gross-domestic-product

 

June FHFA House Price Index up 0.2 percent from May and 4.8 percent year-on-year

The June FHFA House Price Index was up 0.2 percent from May and 4.8 percent year-on-year.  For the entire second quarter of 2019, house prices rose 1.0 percent from the previous quarter, and were up 5.0 percent year-on-year.

https://www.fhfa.gov/AboutUs/Reports/ReportDocuments/HPI_2019Q2.pdf

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