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Theresa Springer’s Blog

Housing Market to Drive GDP

Bill Greiner makes a fairly convincing argument in Forbes that the housing market will be driving real GDP growth upwards of 3% over the next 18 months. He distinguishes between existing home sales and new home sales, and gives an explanation of key factors: employment, confidence, affordability, alternatives, and tax impact. Additionally, he looks at ... MORE

New Home Sales Decreased From October To November

New home sales in the U.S. have taken a slight fall, decreasing 2.1% last month and falling from a five-month high. According to the Commerce Department, sales volume decreased to a seasonally-adjusted annual rate of 464,000. Although percentages are down from the previous month, November’s rates still exceeded many expectations and remain near a five-year ... MORE

U.S. Home Sales Fall

According to data released by the United States government, new home sales dropped in July by 13.4%. Housing market experts suggest that the recent fall in home sales could be due to the rise in mortgage rates. Although mortgage rates are expected to continue to increase, many economists say that it is not expected to ... MORE

New Home Sales Increase

New home sales jumped in April to the 2nd highest level since mid-2008. Meanwhile, the median price of  new homes hit a record high, rising 8.3% from March 2012 and averaged around $271,600. Additionally, according to the Commerce Department, new home sales increased 2.3% last month from March 2012 and averaged a seasonally adjusted annual ... MORE

New Home Sales Hold Steady In October

The sales pace of new homes sold in October was virtually unchanged from the month before, according to estimates jointly released by the U.S. Census Bureau and the Department of Housing and Urban Development. Sales were down 0.3 percent to a seasonally adjusted annual rate of 368,000, but remain 17.2 percent above last year’s estimate ... MORE

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