Last week's economic data included releases on construction spending and labor-related reports including ADP Payrolls, Non-Farm Payrolls, national unemployment. Weekly readings on mortgage rates and new jobless claims were also released. Construction Spending Increases in February February construction spending grew by 0.80 percent from January's reading of -0.50 percent. Analysts expected a reading of + 1.00 percent. Housing industry pros and analysts continue monitoring construction spending … [Read more...]

Last week's economic news included Case-Shiller Home Price Index reports, pending home sales, and consumer confidence readings. Weekly readings on average mortgage rates and new jobless claims were also released. Case-Shiller: Home Prices Higher in January According to Case-Shiller reports released last Tuesday, average home prices increased in January. The national average home price rose 0.20 percent from December to January; year over year, home prices grew by 5.90 percent. Home prices were … [Read more...]

Last week's economic news included releases on new and pre-owned home sales and weekly readings on average mortgage rates and new unemployment claims. Pre-owned Home Sales Fall, Due to Dwindling Inventory 5.48 million pre-owned homes were sold on a seasonally adjusted annual basis. Analysts expected 5.45 million sales based on January's reading of 5.69 million sales. Lagging supplies of listed homes continue to cause home prices to rise as buyers compete for fewer available homes. First time … [Read more...]

Last week's economic readings included reports on inflation and core inflation, the National Association of Home Builders Association Housing Market Index and Federal Reserve FOMC statement and press conference by Fed Chair Janet Yellen. The Commerce Department released reports on housing starts and building permits issued. Home Builder Confidence, Housing Starts Rise The National Association of Home Builders Housing Market Index for March rose by six points to an index reading of 71. Builders … [Read more...]