Real Estate News for the week of September 29th, 2014

Welcome to the Real Estate Report for the week of September 29th.

The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending September 19 fell 4.1% from the previous week. Purchase volume fell 0.3%. Refinancing applications decreased 7%.

New home sales rose 18% in August to a seasonally adjusted annual rate of 504,000 units. On a year-over-year basis, new home sales were up 33%. Existing home sales fell 1.8% in August to a seasonally adjusted annual rate of 5.05 million units. Compared to a year ago, August existing home sales were down 5.3%.

Retail sales rose 0.1% for the week ending September 20, according to the ICSC-Goldman Sachs index. On a year-over-year basis, retailers have seen sales increase 4.1%.

Orders for durable goods – items expected to last three or more years – decreased $54.5 billion, or 18.2%, to $245.4 billion for the month. August orders posted a monthly increase of 0.7%.

The Commerce Department announced that gross domestic product – the total output of goods and services produced in the U.S. – increased at a revised annual rate of 4.6% in the second quarter of 2014. This follows a 2.1% decline in the first quarter of 2014.

Initial claims for unemployment benefits for the week ending September 20 rose by 12,000 to 293,000. Continuing claims for the week ending September 13 rose by 7,000 to 2.439 million. The less volatile four-week average of claims for unemployment benefits was 298,500.

Speak Your Mind

*


− 3 = five