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Home sales are up! {Market Report} September 27th

Home sales are up! {Market Report} September 27th
September 30, 2019 abryant

 

 

 

Cavities are like parking tickets, they show up by surprise and take all your pocket money.

Birthdays are nature’s way of feeding us cake.

I’m trying to think how I can think of what I want to think.

According to Archimedes’ principle, what happens when you jump in a bathtub full of water? Answer: The phone rings.

 

Now The Market Report . . .

 

Consumer confidence fell sharply in September, the biggest drop in 9 months. The escalation in trade tensions with China may have contributed to the decline.

U.S. business investment contracted more sharply than estimated in the 2nd qtr. The data cast a shadow on the economy, increasing concerns of a recession.

Jobless claims increased to a 3-week high of 213,000. However, the 4-week average, a less volatile measure, fell to 212,000, the lowest since July.

 

According to the FHFA, July’s single-family home prices came in 5% higher than the previous year. The increase marked slower but still strong growth.

Pending home sales were up in August, 1.6% over July and 2.5% year-over-year. Lack of available inventory is still being blamed for holding back sales.

New-home sales rebounded 7% in August over July, flirting with a 12-year high, and were up 18% year-over-year. Low mortgage rates likely played a role.

 

“The past always looks better than it was. It’s only pleasant because it isn’t here.”
Finley Peter Dunne

This week’s potential market moving reports are:

 

Monday, September 30th:         Chicago PMI

Tuesday, October 1st:                  ISM Manufacturing Index, Construction Spending

Wednesday, October 2nd:         MBA Mortgage Applications, ADP Employment

Thursday, October 3rd:              First Time Jobless Claims, Factory Orders

Friday, October 4th:                   National Employment

 

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