US new home sales post strong increase in first six months of 2016
Wall Street Journal economists’ initial estimates had called for an increase to 559,000 units. Meanwhile, sales in May were revised up to an annualized pace of 572,000 units compared to the previous forecast of 551,000 while June sales increased 25.4% from last year’s data.
The increase in U.S. home sales was attributed to low interest rates. Freddie Mac stated that the June average rate for 30-year fixed-rate mortgages was 3.57%, falling from 3.98% in the same month of the last year.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- PVC downturn persists in China’s local market despite bullish imports
- China's PP market at almost 2-year low; H2 outlook bearish
- Asian spot ethylene market plunges to decade low
- Early July expectations emerge softer in Europe’s PP market
- Import PE prices fall to lowest in more than a decade across Asia
- Tightness pushes Asian PVC markets to 3-month high
- China’s PE market continues bearish run on sluggish demand
- PP and PE markets turn softer in Egypt, Mid-East
- European PET extends bearish trend into 3rd consecutive month
- European PS, ABS markets down after 4 months