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Pending Home Sales rose 4.8% from May to June per the National Association of REALTORS® (NAR), coming in well above estimates of a 1% rise. Sales were 2.6% lower than they were a year earlier, though this is an improvement from May’s -6.6% year-over-year comparison. This report measures signed contracts on existing homes, making it […]

The Case-Shiller Home Price Index, which is considered the “gold standard” for appreciation, showed home prices nationwide rose 0.3% from April to May after seasonal adjustment, breaking the previous month’s all-time high. Home values in May were also 5.9% higher than a year earlier, following a 6.4% gain in April. The Federal Housing Finance Agency’s […]

The latest Job Openings and Labor Turnover Survey (JOLTS) showed that job openings fell slightly to 8.184 million in June, well below the high of 12 million hit in 2022. The hiring rate fell to 3.4%, which is the lowest level in ten years not including COVID, while the quit rate remained a low 2.1%. […]

Job creation among private employers slowed for the fourth straight month, per ADP’s Employment Report, which showed employers added 122,000 new jobs in July versus the 150,000 that had been forecasted. Large gains in trade and transportation, construction, and leisure and hospitality were offset by losses seen in the information and professional and business services […]

The Bureau of Labor Statistics (BLS) reported that there were 114,000 jobs created in July, which was well below estimates of 175,000. Negative revisions to May and June shaved 29,000 jobs from those months combined. The unemployment rate rose from 4.1% to 4.3%, which is the highest level since October 2021. What’s the bottom line? […]

After eleven rate hikes since March 2022, the Fed once again left their benchmark Federal Funds Rate unchanged at a range of 5.25% to 5.5%. This decision was unanimous and marks the eighth straight meeting they held rates steady. The Fed Funds Rate is the interest rate for overnight borrowing for banks and it is […]

It’s a jam-packed week. In housing news, look for appreciation data for May from Case-Shiller and the Federal Housing Finance Agency on Tuesday. June’s Pending Home Sales will be reported on Wednesday. Labor sector data will also make headlines, with updates on job openings Tuesday, private payrolls Wednesday, unemployment claims Thursday, and nonfarm payrolls and […]

August 2 is National Ice Cream Sandwich Day! Cool off with this classic recipe from The New York Times that makes for a delicious summertime treat! Preheat oven to 350 degrees Fahrenheit. Butter a 13-x-18-inch baking sheet and line it with parchment paper. In a medium bowl, whisk together 1 cup all-purpose flour, 3/4 cup […]

The number of people filing for unemployment benefits fell in the latest week, though jobless claims remain elevated when compared to the beginning of this year. First-time filers as measured by Initial Claims totaled 235,000, while 1.851 million people are continuing to receive benefits after filing their initial claim. What’s the bottom line? Both Initial […]

The advance estimate of Gross Domestic Product (GDP) for the second quarter showed that the U.S. economy grew by 2.8% per the Bureau of Economic Analysis. This was well above the 2% estimate and double the 1.4% growth seen in the first quarter of this year. What’s the bottom line? Economic activity was better than […]

New Home Sales, which measure signed contracts on new homes, fell 0.6% from May to June, marking the second straight monthly decline and the lowest level since November. Signed contracts were also 7.4% lower than they were in June of last year, with the Northeast seeing a nearly 64% annual decline. What’s the bottom line? […]

Existing Home Sales fell for the fourth straight month per the National Association of REALTORS® (NAR), as June’s transactions were down 5.4% from May and also 5.4% from a year ago. This report measures closings on existing homes in June and likely reflects people shopping for homes in April and May when rates were above […]

June’s Personal Consumption Expenditures (PCE) showed that headline inflation rose 0.1% from May, while the year-over-year reading declined from 2.6% to 2.5%. Core PCE, the Fed’s preferred method which strips out volatile food and energy prices, rose 0.2% monthly. The year-over-year reading held steady at 2.6%, remaining at the lowest level in three years. What’s […]

National Peanut Butter and Chocolate Day is July 23. These Peanut Butter Bars courtesy of Allrecipes are a perfect way to enjoy this winning combination. In a medium bowl, mix 2 cups graham cracker crumbs, 2 cups confectioner’s sugar, 1 cup butter and 1 cup peanut butter until well blended. Press evenly into the bottom […]

The Conference Board released their latest Leading Economic Index (LEI), which takes a broad look at the economy and tracks where it’s heading in the near term. June brought a 0.2% drop, which followed May’s upwardly revised 0.4% decline. What’s the bottom line? “The US LEI continued to trend down in June, but the contraction […]