NEW YORK (CNNMoney.com) -- U.S. stocks were set for a slightly higher start Thursday, as invesetors show little reaction to reports on jobless claims and gross domestic product.
At 8:56 a.m. ET, the Dow Jones industrial average, Nasdaq 100 and Standard & Poor's 500 futures were a shade higher.
Futures measure current index values against their perceived future performance and offer an indication of how markets may open when trading begins.
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Thursday, August 27, 2009
Wednesday, August 26, 2009
National new home sales jump in July - Kansas City Business Journal:
Sales of new homes rose 9.6 percent in July from June to an annual pace of 433,000, according to the U.S. Department of Commerce.
July sales nationally were down 13.4 percent from last year.
The average sales price of a new home nationally in July was $269,200, and the number of new homes on the market at the end of July was 271,000, or a 7.5-month supply, based on the current sales rate, the agency said.
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July sales nationally were down 13.4 percent from last year.
The average sales price of a new home nationally in July was $269,200, and the number of new homes on the market at the end of July was 271,000, or a 7.5-month supply, based on the current sales rate, the agency said.
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July new home sales blast past expectations - Aug. 26, 2009
By Les Christie, CNNMoney.com staff writer
Last Updated: August 26, 2009: 12:36 PM ET
NEW YORK (CNNMoney.com) -- Sales of newly constructed homes leaped unexpectedly in July to hit their highest level since last September.
New homes sold at an annualized rate of 433,000 during the month, according to a joint report issued by the Census Bureau and Department of Housing and Urban Development.
That far exceeded analysts' forecasts and was up 9.6% from the revised 395,000 rate recorded in June. A consensus of industry experts surveyed by Briefing.com had predicted July sales of 390,000.
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Last Updated: August 26, 2009: 12:36 PM ET
NEW YORK (CNNMoney.com) -- Sales of newly constructed homes leaped unexpectedly in July to hit their highest level since last September.
New homes sold at an annualized rate of 433,000 during the month, according to a joint report issued by the Census Bureau and Department of Housing and Urban Development.
That far exceeded analysts' forecasts and was up 9.6% from the revised 395,000 rate recorded in June. A consensus of industry experts surveyed by Briefing.com had predicted July sales of 390,000.
Click here for the complete story.
July new US home sales up 9.6 percent - Boston.com
WASHINGTON—New U.S. home sales surged 9.6 percent in July, rising for the fourth straight month and beating expectations as the housing market marches steadily back from its historic downturn.
The Commerce Department said Wednesday that sales rose to a seasonally adjusted annual rate of 433,000 from an upwardly revised June rate of 395,000.
It was the strongest sales pace since September and exceeded the forecasts of economists surveyed by Thomson Reuters, who expected a pace of 390,000 units. The last time sales rose so dramatically was in February 2005.
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The Commerce Department said Wednesday that sales rose to a seasonally adjusted annual rate of 433,000 from an upwardly revised June rate of 395,000.
It was the strongest sales pace since September and exceeded the forecasts of economists surveyed by Thomson Reuters, who expected a pace of 390,000 units. The last time sales rose so dramatically was in February 2005.
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Reports suggest Mass. home buyers overcoming qualms - The Boston Globe
Home prices in Greater Boston have increased for three straight months and the number of houses selling is up sharply, suggesting that the long housing slump is over.
June home prices were a strong 2.6 percent above the previous month, and the number of single-family homes that sold statewide in July was a whopping 12 percent higher than a year ago. While these data come from different sources, and measure different components of the real estate market, they point to a market that is heading upward.
Housing industry specialist Karl E. Case, a professor of economics at Wellesley College, said the Boston market is “bottoming out.’’ He noted that the housing index he cofounded, the S&P/Case-Shiller home price indexes, showed several months of prices increasing in Greater Boston.
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June home prices were a strong 2.6 percent above the previous month, and the number of single-family homes that sold statewide in July was a whopping 12 percent higher than a year ago. While these data come from different sources, and measure different components of the real estate market, they point to a market that is heading upward.
Housing industry specialist Karl E. Case, a professor of economics at Wellesley College, said the Boston market is “bottoming out.’’ He noted that the housing index he cofounded, the S&P/Case-Shiller home price indexes, showed several months of prices increasing in Greater Boston.
Click here for the complete story.
Post Market Summary: Wall Street Rallies On Positive Data, Bank Of America (NYSE: BAC) Surges
(By Salman - iStockAnalyst Writer)
US stocks finished with gains on Tuesday after better-than-expected consumer confidence and housing data boosted investor sentiment. Stocks also rose on reports that President Obama is nominating Federal Reserve chief Ben Bernanke for a second term in office.
The Dow Jones Industrial Average jumped 30.01 points or 0.32% to finish at 9,539.29. The S&P 500 gained 2.43 points or 0.24% to end at 1,028. The Nasdaq Composite climbed 6.25 points or 0.31% to 2,024.23.
The Conference Board said on Tuesday that its consumer confidence index jumped to 54.1 in August from an upwardly-revised 47.4 in July. Economists were expecting the index to rise to 48.
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US stocks finished with gains on Tuesday after better-than-expected consumer confidence and housing data boosted investor sentiment. Stocks also rose on reports that President Obama is nominating Federal Reserve chief Ben Bernanke for a second term in office.
The Dow Jones Industrial Average jumped 30.01 points or 0.32% to finish at 9,539.29. The S&P 500 gained 2.43 points or 0.24% to end at 1,028. The Nasdaq Composite climbed 6.25 points or 0.31% to 2,024.23.
The Conference Board said on Tuesday that its consumer confidence index jumped to 54.1 in August from an upwardly-revised 47.4 in July. Economists were expecting the index to rise to 48.
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Tuesday, August 25, 2009
Mass. housing market shows signs of perking up - Daily Business Update - The Boston Globe
By Chris Reidy, Globe Staff
The number of Massachusetts homes sold last month jumped nearly 12 percent from July 2008, and the decline in prices moderated, the Warren Group reported today.
Low interest rates, reduced prices, the first-time homebuyer tax credit, and improved consumer confidence contributed to last month's results, said the Warren Group, the Boston firm that tracks local real estate data and publishes Banker & Tradesman.
"This is a much-needed boost for the state's housing market," Warren Group chief executive Timothy M. Warren Jr. said in a statement. "We haven't had a double-digit gain in monthly home sales since last October. And the declines in home prices have been getting smaller every month."
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The number of Massachusetts homes sold last month jumped nearly 12 percent from July 2008, and the decline in prices moderated, the Warren Group reported today.
Low interest rates, reduced prices, the first-time homebuyer tax credit, and improved consumer confidence contributed to last month's results, said the Warren Group, the Boston firm that tracks local real estate data and publishes Banker & Tradesman.
"This is a much-needed boost for the state's housing market," Warren Group chief executive Timothy M. Warren Jr. said in a statement. "We haven't had a double-digit gain in monthly home sales since last October. And the declines in home prices have been getting smaller every month."
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Home price report: Case-Shiller shows increase of 2.9% - Aug. 25, 2009
NEW YORK (CNNMoney.com) -- National home prices may be on the road to recovery.
After three years of declines, home prices increased 2.9% in the three months ended June 30, according to the latest S&P/Case-Shiller report. That is the first quarter-over-quarter improvement in three years.
Prices in the national index are down 14.9% compared with the second quarter of 2008, the report said. But that is better than the record 19.1% decline that was set in the first three months of 2009.
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After three years of declines, home prices increased 2.9% in the three months ended June 30, according to the latest S&P/Case-Shiller report. That is the first quarter-over-quarter improvement in three years.
Prices in the national index are down 14.9% compared with the second quarter of 2008, the report said. But that is better than the record 19.1% decline that was set in the first three months of 2009.
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US stocks rise on Bernanke nomination | The Daily Telegraph
US stocks climbed overnight as investors appeared to welcome President Barack Obama's widely expected nomination of Federal Reserve chairman Ben Bernanke for a second term.
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Monday, August 24, 2009
Sunday, August 23, 2009
Saturday, August 22, 2009
Friday, August 21, 2009
Monthly Home Sale of Existing Homes Grows at Record Pace
Per National Association of Realtors (Aug 21, 2009)
Monthly Home Sale of Existing Homes
A year ago
July 2008 US 504000 ($253k Av) NORTHEAST 101000 ($307k Av)
A month ago
June 2009 US 521000 ($227k Av) NORTHEAST 90000 ($285k Av)
July 2009 US 532000 ($237k Av) NORTHEAST 105000 ($290k Av)
Per National Association of Realtors
Monthly Home Sale of Existing Homes
A year ago
July 2008 US 504000 ($253k Av) NORTHEAST 101000 ($307k Av)
A month ago
June 2009 US 521000 ($227k Av) NORTHEAST 90000 ($285k Av)
July 2009 US 532000 ($237k Av) NORTHEAST 105000 ($290k Av)
Per National Association of Realtors
Wednesday, August 19, 2009
Pending home sales are up for the fifth consecutive month
Aug 04, 2009 press release by national association of realtors.
Walter Molony
Uptrend Continues in Pending Home Sales
Washington, August 04, 2009
Pending home sales are up for the fifth consecutive month, the first time in six years for such a streak, according to the National Association of Realtors®.
The Pending Home Sales Index,1 a forward-looking indicator based on contracts signed in June, rose 3.6 percent to 94.6 from an upwardly revised reading of 91.3 in May, and is 6.7 percent above June 2008 when it was 88.7. The last time there were five consecutive monthly gains was in July 2003.
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Walter Molony
Uptrend Continues in Pending Home Sales
Washington, August 04, 2009
Pending home sales are up for the fifth consecutive month, the first time in six years for such a streak, according to the National Association of Realtors®.
The Pending Home Sales Index,1 a forward-looking indicator based on contracts signed in June, rose 3.6 percent to 94.6 from an upwardly revised reading of 91.3 in May, and is 6.7 percent above June 2008 when it was 88.7. The last time there were five consecutive monthly gains was in July 2003.
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Lakshman Achuthan predicts end of recession
Lakshman Achuthan and Harm Bandholz say the recession will probably end soon
Posted by Justin Fox Friday, April 24, 2009 at 11:20 am in http://curiouscapitalist.blogs.time.com
Two of my favorite somewhat-off-the-beaten-track economic forecasters just came out with strikingly optimistic pronouncements this morning. How optimistic? The recession-should-end-in-a-couple-of-months optimistic.
Click to read complete story.
Posted by Justin Fox Friday, April 24, 2009 at 11:20 am in http://curiouscapitalist.blogs.time.com
Two of my favorite somewhat-off-the-beaten-track economic forecasters just came out with strikingly optimistic pronouncements this morning. How optimistic? The recession-should-end-in-a-couple-of-months optimistic.
Click to read complete story.
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