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The Rush to the Suburbs Marches On!

More positive news in housing as the S&P Case-Shiller 20-City Home Price Index rose 6.6% annually in September while the National Index jumped 7% year over year. The housing sector continues to astound the markets with strong results fueled by low rates along with a rush to the suburbs. On a monthly basis, the National Index rose 1.2% while the 20-CityComposite was up 1.2% respectively. A spokesperson said, the recent gains may 'presage future strength, as COVID encourages potential buyers to move from urban apartments to suburban homes. The next several months’ reports should help to shed light on this question."
With the holiday spending months upon us across the nation, expectations are calling for an increase this year despite the worries over COVID-19. The National Retail Federation expects that holiday sales during November and December will rise between 3.6% and 5.2% over 2019 to a total between $755.3 billion and $766.7 billion. That compares to $729.1 billion last year and an average holiday sales increase of 3.5% over the past five years. NRF President and CEO Matthew Shay said. “Consumers have shown they are excited about the holidays and are willing to spend on gifts that lift the spirits of family ... more

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