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Pending Home Sales fell 4.9% from December to January per the National Association of REALTORS® (NAR), coming in below expectations. Sales were also 8.8% below the level reported in January 2023. Pending Home Sales measure signed contracts on existing homes, making them an important forward-looking indicator for closings as measured by Existing Home Sales. What’s the […]

New Home Sales, which measure signed contracts on new homes, were up 1.5% from December to January, marking the second consecutive month sales increased. Signed contracts were also 1.8% higher than they were in January 2023. What’s the bottom line? January’s modest increase wasn’t as large as economists had forecasted, as frigid temperatures around much of the […]

January’s Personal Consumption Expenditures (PCE) showed that headline inflation rose 0.3% for the month, with the year-over-year reading falling from 2.6% to 2.4%. Core PCE, the Fed’s preferred method which strips out volatile food and energy prices, rose by 0.4% monthly. The year-over-year reading fell from 2.9% to 2.8%, pushing this important metric one step closer to the Fed’s […]

Applications for new unemployment benefits rose by 13,000 in the latest week, as 215,000 Initial Jobless Claims were filed. Continuing Claims also rose 45,000, with 1.905 million people still receiving benefits after filing their initial claim. What’s the bottom line? While Initial Jobless Claims are still relatively low, Continuing Claims have been trending higher, with this latest reading the […]

Delight family and friends with this light and buttery Pound Cake courtesy of Allrecipes, perfect for snacks, dessert and marking National Pound Cake Day on March 4. Preheat oven to 325 degrees Fahrenheit. Grease and flour a bundt pan. In a large mixing bowl, cream 3 1/4 cups sugar and 3 sticks (1 1/2 cups) […]

Existing Home Sales rose 3.1% from December to January to a 4-million-unit annualized pace, with December’s sales also revised higher per the National Association of REALTORS® (NAR). When compared to January 2023, sales were down 1.7%. What’s the bottom line? This report measures closings on existing homes in January and likely reflects people shopping for homes in […]

Chocolate and peanut butter make for a perfect pair, and these Chocolate Peanut Butter Balls from the Food Network are the perfect way to mark National Peanut Butter Lovers Day on March 1. Yields 24. In a large bowl, beat 1 cup confectioners’ sugar, 1/2 cup creamy peanut butter, 2 tablespoons unsalted butter (room temperature), […]

The minutes from the Fed’s January meeting showed that members were generally optimistic that their policy moves had succeeded in lowering inflation. Members also felt they had reached their peak Fed Funds Rate for this cycle. The Fed Funds Rate is the interest rate for overnight borrowing for banks and it is not the same as […]

The latest New and Pending Home Sales reports will give us an update on signed contracts for January when they’re released on Monday and Thursday, respectively. We’ll also get appreciation data for December from Case-Shiller and the Federal Housing Finance Agency on Tuesday. Look for the second reading for fourth quarter 2023 GDP on Wednesday, […]

Initial Jobless Claims, which measures the number of people filing new unemployment claims, declined by 12,000 to 201,000 in the latest week. Continuing Claims also fell by 27,000, with 1.862 million people still receiving benefits after filing their initial claim. What’s the bottom line? Initial Jobless Claims are still relatively low, while Continuing Claims have been trending higher since reaching […]

The Conference Board released their latest Leading Economic Index (LEI), which is a forward-looking index that takes a broad look at the economy and tracks where it’s heading in the near term. January brought a 0.4% drop, marking the 22nd consecutive month of declines. The last time the index fell 22 straight months was in […]

Sentiment among home builders rose for the third straight month in February, reaching the highest level since last August per the National Association of Home Builders (NAHB). Their Housing Market Index climbed four points to 48 and while this is still in contraction territory, the reading is just shy of the key breakeven level of […]

The latest Consumer Price Index (CPI) showed that inflation rose 0.3% from December to January, coming in hotter than economists had expected. On an annual basis, CPI fell from 3.4% to 3.1%, not quite as low as forecasted but still a move in the right direction. Core CPI, which strips out volatile food and energy […]

Housing Starts hit a five-month low in January, down a sharp 14.8% from December. While the bulk of the decline was in multi-family projects, single-family starts also ticked lower.  However, the NAHB predicts that “single-family starts will rise about 5% this year,” per their Chief Economist, Robert Dietz, and there are already signs to support this forecast. Single-family […]

This Homemade Salsa courtesy of Delish makes the perfect accompaniment for National Tortilla Day on February 24. Yields 10 servings. Preheat oven to 400 degrees Fahrenheit. On a large baking sheet, toss 1 white onion (quartered), 2 jalapeno peppers (stems removed, halved lengthwise), and 2 cups cherry tomatoes (halved) in one tablespoon olive oil. Season […]