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Unemployment
The number of U.S. workers filing new claims for jobless benefits declined more than economists expected last week, the U.S. Labor Department said in its weekly report Thursday.
Total claims lasting more than one week, meanwhile, also decreased.
Nov 5 · 10:18:00 AM · Source: Wall Street Journal
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by Larry Etter
GDP
The U.S. Commerce Department Thursday said the economy expanded at a 3.5 percent annual rate in the July-September period, snapping four down quarters with its fastest growth pace since the third quarter of 2007.
Oct 29 · 10:53:00 AM
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by Larry Etter
GDP
The U.S. Commerce Department Thursday said the economy expanded at a 3.5 percent annual rate in the July-September period, snapping four down quarters with its fastest growth pace since the third quarter of 2007.
Oct 29 · 10:52:00 AM
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by Larry Etter
Housing
The Commerce Department says new home sales fell 3.6 percent in September to a seasonally adjusted annual rate of 402,000 from a downwardly revised 417,000 in August. Economists had expected a pace of 440,000. It was the first drop since March.
Oct 28 · 10:49:00 AM · Source: AP
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by Larry Etter
Housing
Data through August 2009, released today by Standard & Poor's for its S&P/Case-Shiller(1) Home Price Indices, the leading measure of U.S. home prices, show that the annual rate of decline of the 10-City and 20-City Composites improved compared to last month's reading. This marks approximately seven months of improved readings in these statistics, beginning in early 2009.
The annual returns of the 10-City and 20-City Composite Home Price Indices, declined 10.6% and 11.3%, respectively, in August compared to the same month last year. Nineteen of the 20 metro areas and both Composites showed an improvement in the annual rates of decline with August's readings compared to July. Cleveland was the only exception.
Oct 27 · 11:33:00 AM · Source: PR Newswire
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by Larry Etter
Housing
The National Association of Realtors® reported that existing-home sales – including single-family, townhomes, condominiums and co-ops – jumped 9.4 percent to a seasonally adjusted annual rate1 of 5.57 million units in September from a level of 5.10 million in August, and are 9.2 percent higher than the 5.10 million-unit pace in September 2008. Sales activity is at the highest level in over two years, since it hit 5.73 million in July 2007.
Lawrence Yun, NAR chief economist, said favorable conditions matched with a tax credit are boosting home sales. “Much of the momentum is from people responding to the first-time buyer tax credit, which is freeing many sellers to make a trade and buy another home,” he said. “We are hopeful the tax credit will be extended and possibly expanded to more buyers, at least through the middle of next year, because the rising sales momentum needs to continue for a few additional quarters until we reach a point of a self-sustaining recovery.”
Oct 23 · 10:28:00 AM · Source: NAR Press Release
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by Rich Pike
Unemployment
The number of U.S. workers filing new claims for unemployment benefits rose more than expected last week, data showed on Thursday, indicating the labor market remains fragile despite signs of economic revival. Initial claims for state jobless insurance increased 11,000 to a seasonally adjusted 531,000 in the week ended Oct. 17 from a revised 520,000 the prior week, the Labor Department said, after declining for two consecutive weeks.
Analysts polled by Reuters had forecast new claims nudging up to 515,000 last week from a previously reported 514,000
Oct 22 · 9:56:00 AM · Source: Reuters
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by Larry Etter
Housing
The national median home price is predicted to drop 11.3% by June 30, 2010, according to Fiserv, a financial information and analysis firm. For the following year, the firm anticipates some stabilization with prices rising 3.6%.
The latest forecast is at odds with the past few months of the S&P/Case-Shiller Home Price index. That report has given hope that most housing markets may have already stabilized because the composite index of 20 cities rose in May, June and July. Nationally, it found that home prices have gained 3.6%.
Brad Hunter, chief economist for Metrostudy, which provides housing market information to the industry, however, expects a change in fortunes, however.
"I'm afraid Case-Shiller may be just a temporary reprieve," he said.
Oct 20 · 2:53:00 PM · Source: Yahoo.com
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by Rich Pike
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