Real Estate News for the week of July 28th, 2014

Welcome to the Real Estate Report for the week of July 28th.

Existing home sales rose 2.6% in June to a seasonally adjusted annual rate of 5 million units. If we Compare this activity to a year ago this time existing home sales were down 2.3%.

The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending July 18 rose 2.4% from the previous week. Purchase volume rose three tenths of one percent while Refinancing applications kept the positive mojo going by posting a 4% increase.

Unfortunately New home sales fell 8.1% in June to a seasonally adjusted annual rate of 406,000 units.

Consumer prices saw a modest increase of point 3% in June, following a 0.4% increase in May. Now comparing these numbers to last year at this time, June consumer prices have risen 2.1%. Consumer prices at the core rate – excluding volatile food and energy prices – were up 0.1% for June.

Orders for durable goods – these are items expected to last three or more years – increased $1.8 billion to $239.9 billion in June. This follows a 1% decline in May. If we remove volatile transportation-related goods, the pendulum swings the other way and we see June orders posting an increase of 0.8%.

Initial claims for unemployment benefits for the week ending July 19 fell by 19,000 to 284,000. Continuing claims for the week ending July 12 fell by 8,000 to 2.5 million, this is a new recovery low. The less volatile four-week average of claims for unemployment benefits was 302,000.

Speak Your Mind


+ eight = 11