From PetroChem Wire . . . .
PetroChem Wire's Daily Wire provides closing prices and a summary of the day's trading activity for US ethylene, proylene, polymers and upstream NGLs markets. Begun in 2007, its olefins and polyolefins prices serve as benchmarks for a number of physical and swap contracts that trade on the CME/NYMEX Clearport system.
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Residential new home sales declined in January
HOUSTON, March 14, 2019 (PCW) -- Sales of new single-family houses in January fell to a seasonally adjusted annual rate of 607,000, 6.9% below the revised December rate of 652,000 and 4.1% below the January 2018 estimate of 633,000, according to estimates released jointly today by the US Census Bureau and the Department of Housing and Urban Development.
The median sales price of new houses sold in January 2019 was $317,200. The average sales price was $373,100.
The seasonally-adjusted estimate of new houses for sale at the end of January was 336,000. This represents a supply of 6.6 months at the current sales rate.
Data collection and processing were delayed due to the lapse in federal funding from December 22, 2018 through January 25, 2019. Processing and data quality were monitored and no systematic issues were identified. The US Census Bureau updated its 2019 economic indicator release calendar to include January?March 2019 releases following the recent lapse in federal funding. -- Donna Todd