
Core Report | July 25, 2025
New home sales increased slightly in June although at a slower rate than expected. June new home sales came in at a 627,000 unit annual rate, up 0.6% from May but down 6.6% from the 671,000 unit rate in June 2024.
New home sales increased slightly in June although at a slower rate than expected. June new home sales came in at a 627,000 unit annual rate, up 0.6% from May but down 6.6% from the 671,000 unit rate in June 2024.
A key leading indicator for the non-residential construction spending increased sharply in June. The June Dodge Momentum Index came in at 225.1, up nearly 7% from May and up over 12% from last June.
A key leading indicator for the non-residential construction spending increased sharply in June. The June Dodge Momentum Index came in at 225.1, up nearly 7% from May and up over 12% from last June.
The strong surge in buying during the March/April time frame to get ahead of any potential tariff price increases helped to pull demand forward and negatively impact sales in June.
After sliding the previous two months and in three of the past four months, sales of existing homes increased slightly in May. May existing home sales came in at 4.030 million unit rate, up 0.8% from April but down 0.7% from the 4.060 million unit rate in May 2024.
Freight rates for the trucking transportation industry continued to climb in May, now up for the fourth straight month. The May inferred freight rates (a simple equation of cost of shipments divided by total shipments) increased to 3.143.
Domestic raw steel production increased sharply again last week, now up seven out of the last eight weeks. U.S. mills produced an estimated 1,785k tons at a 79.5% utilization rate; this is up from 1,757k tons and a 78.2% rate previously.
Domestic raw steel production increased sharply again last week, now up six out of the last seven weeks. U.S. mills produced an estimated 1,757k tons at a 78.2% utilization rate; this is up from 1,744k tons and a 77.6% rate previously.
After sliding for five consecutive months, confidence of U.S. consumers rebounded in May. The May Consumer Confidence Index came in 98.0, up 12.3 points from April.
After sliding the first two months of the year, new home sales have now increased in back-to-back months. New home sales came in at a 743,000 unit rate in April, up 10.9% from March and up 3.3% from the 719,000 unit rate in April 2024.