Headline News
Housing
Home price index up for 1st time in 3 years
The value of U.S. homes grew on a monthly basis in May for the first time in nearly three years, according to 20-city index released Tuesday.
The month-over-month increase was 0.5%, according to the report from financial data company Standard & Poors and economists Case-Shiller. It was the first increase in the monthly index since July 2006.
On an annual basis, home prices in the 20 cities fell 17.1%, but it was the fourth straight month that the year-over-year decline lessened.
Jul 28 · 6:44:00 AM · Source: CNN Money
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by Rich Pike
Oil
U.S. Crude rises to $68.38.
U.S. crude rose 33 cents to settle at $68.38 a barrel after earlier hitting $68.99, the highest since July 2. The gains came as gasoline and heating oil futures rose for the 10th session in a row.
Expectations that a rebound in the global economy could lift flagging oil demand has helped push crude prices up from below $33 a barrel in December.
Jul 27 · 6:16:00 PM · Source: CNN Money
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by Rich Pike
Housing
June New Home Sales Up from May; down from Jun 08.
A HUD and US Census report released today shows that new home sales increased 11% from May to June. However, new home sales this June are down 23% as compared to June 2008. Also, the median price of a new home in June 2009 was $206,000, down 13% from $246,000 in June 2008.
Take your pick - you can look at this report as good news because sales were up from last month. Or, you can look at it as bad news because volume and price is down from last June. Most media are reporting it as good news - a sign of the current mood.
Jul 27 · 5:50:00 PM · Source: CNN Money
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by Rich Pike
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