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Tag Archives: Jobs

Home Price Expectations Down Slightly

Over the next 12 months, Americans expect median home prices to rise 3.87 percent, according to the latest data from the Federal Reserve Bank of New York. That figure is down slightly from the New York Fed's June survey, marking the second consecutive month of declining price change expectations. The decline is in line with Fannie Mae's most recent National Housing Survey, which showed a decline in expected price growth to 2.3 percent.

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Housing Metrics at 89% of Last ‘Normal’ Levels

Of the nearly 350 metro markets survey in the National Association of Home Builders (NAHB)/First American Leading Markets Index (LMI), the group reports 56 have returned to or exceeded their previous normal levels of economic and housing activity based on housing permits, home prices, and employment. While unchanged from NAHB's June survey, the latest index reflects a yearly increase of seven markets.

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Job Growth More Responsible Than ‘Rebound Effect’ for Home Price Gains

The highest home price gains for July 2014 were in the Midwest and South, and those gains are more likely a result of job growth as opposed to other market influences, according to the Trulia Price Monitor. Average month-over-month gains for the top 100 U.S. markets were 0.8 percent for July after a 1.2 percent increase for June, the company reported.

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Housing, Economic Sentiments Turn Sour

In its latest National Housing Survey, Fannie Mae found housing sentiment among U.S. consumers was down in July compared to recent months, with fewer expecting continued growth. According to the findings, only 42 percent of Americans surveyed said they expect home prices to keep rising over the next year, continuing a downward trend that started in April.

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Consumer Sentiment Inches Down in July

A final look at consumer sentiment for the month of July shows American confidence in the economy softened compared to June as expectations for the rest of the year became more tempered. The University of Michigan/Thomson Reuters Index of Consumer Sentiment finished July at a reading of 81.8, below the 82.5 recorded in June but better than the 81.3 captured in the month's preliminary survey.

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Fed to Cut Monthly Bond Purchases to $25B

Leaders at the Federal Reserve voted Wednesday to move forward with the central bank's plans to gradually cut monthly bond purchases, a sign of growing confidence that the economy is trending in a more favorable direction. In a statement released following its July meeting, the Federal Open Market Committee announced it has voted to bring its purchases of agency MBS and longer-term Treasury securities to a pace of $25 billion per month.

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GDP Growth Climbs to 4.0% in Q2

The U.S. economy experienced a sharp turnaround from the first quarter to the second, fueling hopes of a rebound as the rest of the year plays out. Real gross domestic product (GDP) increased at an annual rate of 4.0 percent in the second quarter of the year, according to an advance estimate released by the Commerce Department. Growth came in at the high end of a survey of economists, with the consensus forecast calling for an increase of 3.1 percent.

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Consumer Confidence Hits Post-Recession High

The Conference Board's Consumer Confidence Index reached 90.9 in the group's July survey, up from 86.4 in June. As of July, the index stands at its highest level since before the Great Recession. Lynn Franco, director of economic indicators at the Conference Board, said the surge was fueled by strong job growth and a brighter short-term outlook for the labor market and personal incomes.

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Despite Housing Woes, Outlook Bright for Minnesota

Wells Fargo's Economics Group recently released its July 2014 economic outlook for Minnesota, reinforcing that while the state's economy is greatly improved, housing still lags behind, with traditional homebuyers in no great hurry to return to the market.

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