Each day the Research staff takes a look at recently released economic indicators, addressing what these indicators mean for REALTORS® and their clients. Today’s update discusses Home Depot stock prices and commodity prices.
Each day the Research staff takes a look at recently released economic indicators, addressing what these indicators mean for REALTORS® and their clients. Today’s update discusses inflation and the consumer price index.
Each day the Research staff takes a look at recently released economic indicators, addressing what these indicators mean for REALTORS® and their clients. Today’s update highlights mortgage purchase applications.
Each day the Research staff takes a look at recently released economic indicators, addressing what these indicators mean for REALTORS® and their clients. Today’s update highlights the stock market and housing inventory.
Each day the Research staff takes a look at recently released economic indicators, addressing what these indicators mean for REALTORS® and their clients. Today’s update highlights mortgage purchase applications and consumer credit.
Michigan has not fared well in the past decade. The state experienced not a one or two-year economic recession like most states, but ten straight years of economic depression-like conditions. However, several recent data releases are pointing toward a turnaround.
The chart below shows the painful job losses that occurred from 2000 to 2009. Yet jobs stopped bleeding in Michigan in 2010 and actually made a recovery of about 100,000 net new jobs by the end of 2011 from the low point.
As REALTORS® in most parts of the country would know, the completion of home sales are strongest in the late spring and summer months as compared to the winter months. January and February are two months with the lowest number of home sale closings because few buyers shop for homes between Thanksgiving and the New Year.
The below graph clearly illustrates the seasonal trend of total completed sales. The peak months can see as much as twice the sales activity seen during the weak months.
The data frequently reported in the media and as reported by NAR for monthly sales is not the raw count of sales but seasonally adjusted figures. That is how all economic data are reported. It would be foolish and not meaningful to say sales are tumbling or jobs in beach towns collapsed in December, if in fact it is a very normal seasonal pattern. And the seasonally adjusted data has been showing a slight improving trend in home sales this past November and December.
Still, from the homeowners’ and practitioners’ points of view, the seasonally adjusted data do not necessarily mean an easy home sale or a higher commission income in winters’ months.
Here’s a USA Today article on how to sell a home in winter. You may not agree with all of these suggestions and/or you may have your own special method.
Each day the Research staff takes a look at recently released economic indicators, addressing what these indicators mean for REALTORS® and their clients. Today’s update highlights unemployment insurance claims and productivity growth.
Each day the Research staff takes a look at recently released economic indicators, addressing what these indicators mean for REALTORS® and their clients. Today’s update highlights mortgage applications and jobs data.
Falling Unemployment Rates: the Bigger Picture
Jobs have been added and the unemployment rate has been falling. This is all good and we hope for continued progress. However, we should at the same time be mindful of the anomaly of fewer people being added to the workforce recently. Every year an additional 3 million people live in this country. Therefore, the workforce – those with jobs or those looking for work – rises in most years. Having said that, we have experienced the abnormal phenomenon of seeing no increases in the workforce for four straight years.
Continue reading »