The following is NAR Chief Economist Lawrence Yun’s reaction to this morning’s U.S. Bureau of Labor Statistics jobs report for April: “This good jobs report for April should dispel any notion of a potential economic recession. Moreover, the continuing low levels of people filing for unemployment checks, as well as the high numbers of job openings,
Today, many real estate conversations center on housing prices and where they may be headed. That is why we like the Home Price Expectation Survey. Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts, and investment & market strategists about where they believe prices are headed over the next
Last week's economic events included weekly releases on new jobless claims, mortgage rates and testimony by Fed Chair Janet Yellen concerning the Federal Reserve's monetary policy.
Last week's scheduled economic news included reports on construction spending and several labor-related reports along with weekly reports on mortgage rates and new jobless claims. The details:
Last week's economic events included S&P Case-Shiller's home price indexes, reports on new and pending home sales and the Fed's FOMC statement. The details:
According to statement issued at the conclusion of today's Federal Open Market Committee meeting, committee members decided against raising the target federal funds rate. Mixed economic conditions, slower economic growth in the 4th quarter and low inflation contributed to the decision against raising rates. The target federal funds rate was raised in December to a range of 0.25 to 1.59 percent after remaining at 0.00 to 0.25 percent for several years. While rising fed rates were expected to cause a hike in mortgage rates, mortgage rates fell after December's rate hike.
Last week's scheduled economic news included releases from the National Association of Home Builders, Housing Starts, and Existing Home Sales. Weekly reports on new jobless claims and mortgage rates were also released.
Valley homes worth less than a quarter million dollars are growing in value according to the latest real estate report from the W.P. Carey School of Business at Arizona State University. The report credits increased appreciation of those homes to a lot of people wanting them and there not being a lot of them available.
Home builders maintained December's confidence level according to the National Association of Home Builders (NAHB) Housing Market Index for January. The latest reading of 60 mirrored December's reading, but was two points lower than expected. Readings of more than 50 indicate that more builders were confident about housing conditions than those who were not.
In addition to weekly reports on mortgage rates and new unemployment claims, last weekâs economic news included the Fedâs Beige Book report, retail sales and consumer sentiment. Januaryâs Empire State Index showed an unexpected dip and Consumer Sentiment increased for January.