7/16: MetroIntelligence Economic Update by P. DUFFY

June Producer Price Index 1.7 rose percent year-on-year, lowest annual rate since January 2017

The Producer Price Index for final demand advanced 0.1 percent in June after rising 0.1 percent in May and 0.2 percent in April, and was up 1.7 percent year-on-year, for the lowest rate of increase since January 2017.  The index for final demand less foods, energy, and trade services was unchanged in June following advances of 0.4 percent in both April and May, and was up 2.1 percent year-on-year.

www.bls.gov/news.release/ppi.nr0.htm

 

CoreLogic: April national delinquencies fell to 20-year low

Nationally, 3.6% of mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure) in April 2019, representing a 0.7 percentage point decline in the overall delinquency rate compared with April 2018, when it was 4.3%. This was also the lowest delinquency rate for any month in more than 20 years.

www.corelogic.com/news/corelogic-reports-lowest-overall-delinquency-rate-in-more-than-20-years-this-april.aspx

 

Redfin:  Available number of homes for sale fell slightly in June, first annual decline since last September

The number of homes for sale nationally fell 0.3 percent year over year in late June-the first annual decline since inventory started climbing in September.  If supply growth continues falling at the rate it has been since April, by September the number of homes for sale will be down from a year earlier by more than 4 percent.

press.redfin.com/news-releases/news-release-details/redfin-report-supply-homes-sale-down-03-june-first-annual