U.S. Economic News

September 26, 2017

U.S. Economic Indicators

New home sales dropped 3.4% to a seasonally adjusted annual pace of 560,000 in August, and are 1.2% below the August 2016 rate.  The median sales price fell to $300,200 and the inventory of new homes climbed to 6.1 months at the current sales rate. Census Bureau Report
The Conference Board’s Consumer Confidence Index edged down from 120.4 to 119.8 in September. 
The moderation was driven by a decrease in the Present Situation Index while the Expectations Index inched up.  Conference Board Report

U.S. News

The Wall Street Journal reports that a new paper shows the substantial share of prime-age men not in work is due to lack of effort in seeking jobs, not a shortage of good jobs. The author of the paper says that there is a much smaller cohort of inactive men who want jobs than many people think, largely due to increased disability enrollment and social safety nets. WSJ

The Wall Street Journal reports that homebuilders are offering to pay off millennials’ student debt if those young individuals buy homes from the builders. Experts say that other homebuilders could copy the program, as substantial debt loads have been a hurdle for first-time homebuyers in recent years. WSJ