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Home Prices Hit Another High
The Case-Shiller Home Price Index, which is considered the “gold standard” for appreciation, showed home prices nationwide rose 0.3% from July to August after seasonal adjustment, helping home values reach an all-time high for the fifteenth straight month. Home values in August were also 4.2% higher than a year earlier, following a 4.8% gain in […]
Big Jump in Pending Home Sales
Pending Home Sales, which are signed contracts on existing homes, rose 7.4% from August to September, hitting their highest level since March. The National Association of REALTORS® (NAR) also reported that sales were 2.6% higher than they were a year earlier. What’s the bottom line? “Contract signings rose across all regions of the country as […]
Consumer Inflation Making Progress
September’s Personal Consumption Expenditures (PCE) showed that headline inflation rose 0.2% from August, while the year-over-year reading fell from 2.3% to 2.1%. Core PCE, the Fed’s preferred method which strips out volatile food and energy prices, rose 0.3% monthly. The year-over-year reading held steady at 2.7%, remaining near the lowest level in over three years. […]
JOLTS, Jobless Claims Show Labor Sector Weakness
The latest Job Openings and Labor Turnover Survey (JOLTS) showed that job openings fell to 7.443 million in August, which was below forecasts and well below the high of 12 million hit in 2022. The quit rate remained at a low 1.9%. A low quit rate suggests there is less poaching from other companies and […]
Private Sector Job Growth Surges, Wages Moderate
October’s private sector job growth hit the highest level since July 2023, per ADP’s Employment Report, which showed that employers added a much larger than expected 233,000 new jobs. In addition, the breadth of job creations was broad based, with only the manufacturing sector shedding jobs. ADP called hiring “robust and broadly resilient” as we […]
Job Growth Stalls in October
The Bureau of Labor Statistics (BLS) reported that there were just 12,000 jobs created in October, which was well belowestimates of 113,000. Negative revisions to August and September also shaved 112,000 jobs from those months combined. Theunemployment rate held steady at 4.1%, though there’s important rounding information to understand about this, as noted below. What’s […]