Thursday, May 29, 2014

INFO THAT HITS US WHERE WE LIVE...

Existing Home Sales were up 1.3% in April to a 4.65 million annual rate. This was the first sales increase in four months and the second monthly gain in the last year. Best of all, inventories shot up by 330,000 units, which was the third largest monthly increase on record since 1999. Many housing observers blamed the recent slower sales pace on a lack of inventory, so this jump up is very good news, pointing to a pickup in May and June sales.


Raymond Gravelle, Broker
Realty Executives Grant County
Your Residential & Commercial Expert
509.771.0027 cell/text
509-498-2056 fax

Sunday, May 25, 2014

The Week In Review

Economic weakness prevailed again this week even though initial claims for unemployment were at their lowest level since 2007. Interest rates were low and consumer prices were higher which suggests a strengthening economy. 

But on the world bond market yields continue to decline as investors perceive weak economies in Europe and the U.S. Most forecasters have drawn down their predictions for the year. The big positive trends this week are low initial claims for unemployment, rising CPI, a statement by Mel Watt, the Director of FHFA, that he will loosen mortgage credit standards at Fannie and Freddie, and rising household debt levels. 

The negative trends are falling industrial production, falling capacity utilization, weak retail sales in April, falling sales at Wal-Mart, falling confidence of home builders, low household formation, weak growth in the Eurozone, falling export prices, falling consumer sentiment, and evidence of rising health insurance premiums,. 

For the week there were 10 positive trends and 15 negative trends. The DJIA fell from 16,583 to 16,491.


Raymond Gravelle, Broker
Realty Executives Grant County
Your Residential & Commercial Expert
509.771.0027 cell/text
509-498-2056 fax