Two housing reports out this last week in which:


May Existing Home Sales fell 2% from April, and were up 19% from one year ago.

 

May New Home Sales dropped 33% from April, which was about 13% lower than one year ago, and a record low level.

 

 The difference would be in the way they measure sales contracts.  Existing Home Sales are measured by contract closings and the New home sales are measured by contracts written up and signed. 

 

So depending on how you measure you have the glass half full or half empty.  Whatever the case interest rates are so incredibly low right now that it for those even thinking about purchasing a home, this is more than a great time to buy.  We will see Friday how the employment report comes out.

 

Good News:

 

Consumer Sentiment rose to the highest level since 2008

The Federal government is saying that the labor market is improving gradually.

 

Have a great week!