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New-home sales tread water, miss Wall Street estimates

  • July 26, 2017
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  • realestatelife

Sales of newly-constructed homes remained steady in June even as the market remains starved for inventory. New-home sales were at a seasonally adjusted annual rate of 610,000, the Commerce Department said Wednesday. That was 0.8% above May’s 605,000 rate, after a slight downward revision. June’s tally was 9.1% higher than a year ago.

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Treasury yields extend rise ahead of Fed meeting

  • July 25, 2017
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  • realestatelife

Treasury yields across the curve continued to rise on Tuesday following two straight weeks of declines as traders sold government paper ahead of the Federal Reserve’s policy meeting on Wednesday, which could set the market up for the looming normalization of the central bank’s balance sheet. The 10-year benchmark yield added 3.6 basis points to

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Major metro area home prices up 5.7% year-over-year

  • July 25, 2017
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  • realestatelife

The S&P CoreLogic Case-Shiller home price index maintained a 5.6 percent annual gain in May, even as a key composite declined. The index which covers home prices in 20 cities across the U.S. was up 5.7 percent in May, a decline from April and 0.1 percent below expectation.

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U.S. economy poised for faster growth? Leading indicators say yes

  • July 20, 2017
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  • realestatelife

A broad measure of how well the U.S. economy is performing surged in June after a strong gain in May, suggesting growth could speed up in the months ahead. The leading economic index jumped 0.6% last month after a revised 0.4% increase in May

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Layoffs hover near 44-year low as firms scramble to find workers

  • July 20, 2017
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  • realestatelife

The number of Americans who applied for unemployment benefits sank in mid-July and hovered near a 44-year low, reflecting the healthiest jobs market in more than a decade. Initial jobless claims in the period running from July 9 to July 15 fell by 15,000 to a seasonally adjusted 233,000. That matches the second-lowest level since

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Philly Fed manufacturing report shows slowing growth in July

  • July 20, 2017
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  • realestatelife

Manufacturers reported solid, but slowing, growth in July. The Philadelphia Federal Reserve said its manufacturing survey in July fell to 19.5 from 27.6 in June.

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Housing starts jump as construction, home buying get back on track

  • July 19, 2017
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  • realestatelife

Housing starts were at a 1.22 million seasonally adjusted annual rate, the Commerce Department said Wednesday, 8.3% higher than in May and 2.1% higher for the year. The MarketWatch consensus of economists was for a 1.16 million annual pace.

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U.S. import prices decline in June for third time in four months

  • July 18, 2017
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  • realestatelife

Falling import prices show that barely any inflation is coming into the U.S. from abroad. The price of imported goods fell in June for the third time in four months, the latest signal that inflation in the U.S. has waned after a rapid buildup last year. The import price index dropped 0.2% last month, largely

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Empire State manufacturing index retreats in July from two-year high

  • July 17, 2017
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  • realestatelife

The New York Fed’s Empire State manufacturing index fell to a seasonally adjusted reading of 9.8 from 19.8 in June. Economists polled by Econoday expected a reading of 15, on a scale where any figure above zero indicates improving conditions. Readings in July for new orders, shipments, inventories, delivery times and number of employees all

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Consumers aren’t spending, and surging rent might be to blame

  • July 15, 2017
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  • realestatelife

The cost of rent is on the rise again, pressuring Americans’ pocketbooks and crimping growth throughout the economy. Rent rose 3.9% compared to a year ago in June, the Labor Department said Friday. While that’s only a slight uptick from 3.8% annual gains in the past couple of months, the average annual increase in each

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