Labor/Economy

CoreLogic reported that U.S. home prices, including those generated by distressed sales, increased by 2 percent in May 2012 compared with the same month a year ago.

Word from the negotiating nabobs in Europe on Friday seemed to be positive, though as usual, the details of the agreement remained a little elusive.

The Bureau of Economic Analysis released its final estimate for U.S. economic growth during the first quarter of this year.

Consumers and investors are supposed to be nervous during this dry summer of 2012, but homebuyers seem determined to go ahead with their plans to buy—more of them than previously, at least.

The latest S&P/Case-Shiller Home Price Indices showed that on average home prices increased 1.3 percent in the month of April for both the 10- and 20-City Composites.

The Census Bureau recently reported that new home sales in May were at an annualized rate of 369,000 units, up 7.6 percent from the revised April rate of 343,000 units.

Late last week word broke that Spain was going to formally request what the country has so far only informally requested, namely financial assistance from the EU for its sickly banking sector.

Existing U.S. home sales dropped by 1.5 percent month-over-month in May, according to the National Association of Realtors.