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home sales: Economic Update In Plain English - 12/5/2011 - 12/05/11 10:27 AM
 
Last Week in the News
New home sales rose 1.3% in October to a seasonally adjusted annual rate of 307,000 units from a revised rate of 303,000 units in September. Compared to a year ago, new home sales were up 8.9%.
The Standard & Poor's/Case-Shiller 20-city housing price index — on a non-seasonally adjusted basis — fell 0.6% in September after a 0.1% increase in August. On a year-over-year basis, prices fell 3.6% compared with September 2010.
The consumer confidence index rose to 56 in November from 40.9 in October, the largest gain since April 2003. The index was benchmarked … (0 comments)

home sales: Interpreting Housing Economic Indicators - 02/24/10 09:20 AM

Analysts, policy makers and investors closely follow economic indicators that track the condition of the housing market. Here's some background information on these important indicators.
Housing StartsHousing starts is considered the most important report on the housing sector due to its large ripple effect in the economy when buyers purchase appliances and household furnishings. Construction of single-family homes accounts for about 85% of the industry. Work on multi-family units makes up the rest of the market and is considered highly volatile.
Home SalesNew homes sales account for less than 10% of the market. They are tabulated when the contract is … (1 comments)

home sales: Economic Update - Re-Cap in Plain English ~ 11/30/09 - 11/30/09 10:48 AM
Last Week in the News
Existing home sales rose 10.1% in October to a seasonally adjusted annual rate of 6.1 million units from 5.54 million units in September. The increase was largely due to the tax incentive for first-time homebuyers. The inventory of unsold homes on the market fell 3.7% to 3.57 million, a 7-month supply at the current sales pace, and the lowest level since February 2007.
The Commerce Department announced that gross domestic product — the total output of goods and services produced in the U.S. — increased at an annual rate of 2.8% in the third quarter of … (2 comments)

home sales: Economic Update - Re-Cap in Plain English ~ 10/26/2009 - 10/26/09 10:55 AM
Last Week in the News
Existing home sales rose 9.4% in September to a seasonally adjusted annual rate of 5.57 million units from 5.1 million units in August. The increase was largely due to the tax incentive for first-time homebuyers.
According to the ICSC-Goldman Sachs index, retail sales rose 0.2% in the week ending October 17. On a year-over-year basis, retailers saw sales increase by 2.8%, the best showing in a year.
The producer price index, which tracks wholesale prices, rose 0.6% in September, following a 1.7% increase in August. For the year, wholesale prices are down 4.8%.
The Commerce Department … (0 comments)

home sales: Economic Update - Re-Cap in Plain English ~ 09/28/2009 - 09/29/09 12:11 AM
Last Week in the News
The index of leading economic indicators — designed to forecast economic activity in the next three to six months — rose 0.6% in August after an upwardly revised 0.9% gain in July. It was the fifth straight monthly increase.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications for the week ending September 18 rose 12.8% to 668.5, the highest since the week ending May 22. Purchase volume rose 5.6% to 288.3. Refinancing applications increased 17.4% to 2,881.5.
Initial claims for unemployment benefits fell by 21,000 to 530,000 in the week ending September … (1 comments)

home sales: Economic Update - Re-Cap in Plain English ~ 08/24/2009 - 08/24/09 08:32 AM
Last Week in the News
Existing home sales rose 7.2% in July to a seasonally adjusted annual rate of 5.24 million units from a revised level of 4.89 million units in June. July marks the fourth consecutive monthly increase in existing home sales and it was the largest monthly gain since recordkeeping began.
The National Association of Home Builders / Wells Fargo housing market index rose one point in August to 18. It was the highest level since June 2008. An index reading below 50 indicates negative sentiment about the housing market.
The combined construction of new single-family homes and apartments … (3 comments)

home sales: Economic Update - Re-Cap in Plain English ~ 06/29/2009 - 06/29/09 10:46 AM
The National Association of Realtors said existing home sales rose 2.4% in May to a seasonally adjusted annual rate of 4.77 million units from a revised level of 4.66 million units in April. May’s increase was the first back-to-back monthly gain since September 2005.
According to the ICSC-Goldman Sachs index, retail sales were unchanged in the week ending June 20. On a year-over-year basis, retailers saw sales decline by 0.9%.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications for the week ending June 19 increased 6.6% to 548.2 from 514.4 the previous week. Purchase volume rose 7.3% … (0 comments)

 
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Julie Chroust, NMLS# 249458, Direct Lender & Mortgage Banker

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Julie Chroust, Prospect Mortgage, Walnut Creek, CA

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