Consumer outlook not to blame for slowing existing-home sales

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Motor vehicles and apparel are the biggest losers in the slowing growth of retail. Auto sales declined by 0.8% in August, while apparel sales lost 1.7%, which is especially painful following a 2.2.

existing home sales, which make up about 90 percent of U.S. home sales, plunged 10.3 percent from a year ago. For all of 2018, sales fell 3.1 percent to 5.34 million units, the weakest since 2015.

Unfortunately, May real retail sales growth was only 1.3% YoY. Except for existing home sales, all releases this week maintained a downward trend line.

Existing home sales. of an American consumer that, while seemingly not down and out, hasn’t been showing as much strength as retailers might want. China’s Demographics: There’s been plenty of focus.

Higher interest rates during much of 2018 were largely to blame for the weak existing home sales, NAR’s chief economist Lawrence Yun said in a statement. "The housing market is obviously very.

Retail sales grew a solid 0.6% in May, while April data was revised into the black, 0.3%. General merchandise sales are continuing their strong run. motor vehicle sales were expected to slow but.

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Existing home sales have dropped sharply for two consecutive months now. Economic indicators are still generally beating analysts’ expectations, but not by as much as they were just a month ago. Our estimate for Q1 GDP growth slips to 2.0%, as real consumer spending continues to lag the fourth quarter growth rate.

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Existing home sales, which make up about 90 percent of U.S. home sales, plunged 10.3 percent from a year ago. For all of 2018, sales fell 3.1 percent to 5.34 million units, the weakest since 2015. The housing market has been stymied by higher mortgage rates as well as land and labor shortages, which have led to tight inventory and more.

Implications: Existing home sales retreated in March after posting the second largest monthly gain on record in February. Sales fell 4.9% for the month, returning to a more moderate pace. Despite the negative headline number, Q1 as a whole posted a 1.2% gain over the Q4 2018 average, the first quarterly gain after four consecutive declines.

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