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Rates are stable, but what about housing? {Market Report} July 23rd

Rates are stable, but what about housing? {Market Report} July 23rd
July 23, 2018 abryant

 

 

The fact that we’re all different is the one thing we all have in common.

During the day, I don’t believe in ghosts. At night, I’m a little more open-minded.

We all know that when someone says “stop clicking your pen” we always click it one more time.

I may look like I’m having deep thoughts, but 99% of the time I’m thinking about what I’m going to eat later.

In the future, I’ll tell my grandchildren that I am older than the internet, and blow their minds forever.

 

Now The Market Report . . .

 

Retail sales rose for a fifth straight month in June. A tight labor market and lower taxes have supported solid gains in household purchases.

Investors say the economy has plenty of steam despite bond market and trade fears. A flattening bond yield curve has caused concern in some circles.

The number of filings for unemployment benefits fell last week, hitting its lowest level in more than 48-1/2 years. The labor market continues to strengthen.

 

As expected, the NAHB Housing Market Index remained at 68 this month. The reading indicates a strong level of builder confidence in the new home market.

Inventory shortages have extended to land shortages as well. Homebuilding fell to a nine-month low in June, and permits declined for a third straight month.

While permits to build single-family homes rose 0.8% in June, they trailed starts, suggesting moderate gains in single-family homebuilding in the months ahead.

 

I got fired from my job as a taxi driver. It turns out my customers didn’t like it when I tried to go the extra mile.

 

This week’s potential market moving reports are:

 

Monday July 23rd:          Existing Home Sales

Tuesday July 24th:         Market Manufacturing

Wednesday July 25th:    New Home Sales

Thursday July 26th:        First Time Jobless Claims, Housing Vacancies for Q2

Friday July 27th:             GDP for Q2, Consumer Sentiment

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