By Lucia Mutikani
U.S. home resales fell more than expected in December (click here) as the supply of houses on the market dropped to levels last seen in 1999, but the housing market recovery remained intact against the backdrop of a tightening labor market.
The National Association of Realtors said on Tuesday existing home sales decreased 2.8 percent to a seasonally adjusted annual rate of 5.49 million units. In addition to the lack of properties to purchase, rising home prices and mortgage rates also likely sidelined some buyers last month.
The drop in sales followed three straight months of increases and probably does not signal impending housing weakness, with the labor market near full employment and the economy strengthening....
It is stated there are fewer homes sales because there aren't enough new homes. Well. There is conflicting information about that.
If the Democrats are not the experts on how the USA Middle Class is doing than shame on them. The local economies today are strong and should have clear understandings of how their economies are doing. There should be no doubt what so ever how the Middle Class is fairing as compromise from the White House damage their lives.
If the Democrats are not the experts on how the USA Middle Class is doing than shame on them. The local economies today are strong and should have clear understandings of how their economies are doing. There should be no doubt what so ever how the Middle Class is fairing as compromise from the White House damage their lives.
May 24, 2016
By Lucia Mutikani
New U.S. single-family home sales recorded their biggest gain in 24 years (click here) in April, touching a more than eight-year high as purchases increased broadly, a sign of growing confidence in the economy's prospects.
Tuesday's report from the Commerce Department, which also showed a surge in new home prices to a record high, offered further evidence of a pick-up in economic growth that could allow the Federal Reserve to raise interest rates soon.
"Consumers are taking the leap and buying the biggest of big ticket items of their lives and this speaks to confidence. The Federal Reserve can raise rates at their June meeting without fear the economy is going to slow," said Chris Rupkey, chief economist at MUFG Union Bank in New York....
