Author Archive

Forecast for the Economy

Incoming fresh economic data point to continued GDP expansion at a near 3 percent growth rate and about 2.5 million net new jobs over the next 12 months. Inflation remains tame – so far. But upward pressure will build...

Economic Forecast Presentation (NAR Leadership Summit 2014)

The 2014 NAR Leadership Summit, an annual event that brings together Presidents-Elect and Chief Staff Executives of the local and state associations, was held in late August in Chicago. As part of the program schedule, NAR Chief Economist Lawrence...

The Latest Retail Sales

Retail sales continue to make good, steady gains.  The economy is clearly entering into a virtuous cycle of more jobs leading to more consumer spending.  More retail sales in turn are leading to more job hiring by companies that...

Consumer Confidence: Highest in Nearly Seven Years

Consumers are feeling much better and more confident in recent months:  the consumer confidence index in August rose to the highest mark in nearly seven years.  Such a trend could lead to improvement in home sales and boost demand...

Latest Construction Activity (July 2014)

Very fast growth in multifamily activity has been pushing up overall construction spending. Jobs in the construction sector have yet to match the rise in spending dollars, however. Given the general lagging impact on jobs, construction job growth looks...