Economy Watch: Construction Spend Rises in May
The Census Bureau said that U.S. construction spending during May was at an annualized rate of $874.9 billion, 0.5 percent above the revised April rate. The May figure is 5.4 percent above the May 2012 total of $830.4 billion.
‘Economy Watch’ Podcast with Dees Stribling: The Economy Didn’t Grow Much
The economy didn’t grow much in the first quarter, but there continues to be other good news.
Economy Watch: Mortgage Delinquencies Drop
Fannie Mae reported on Friday that the single-family serious delinquency rate for the mortgages that it owns and insures dropped in May to 2.83 percent from 2.93 percent in April, down to the lowest level since January 2009, when delinquencies were on the way up.
Economy Watch: Pending Home Sales Continue Rising
The National Association of Realtor’s Pending Home Sales Index, a forward-looking indicator based on residential contract signings, but not closings, increased 6.7 percent to 112.3 in May from 105.2 in April.
Economy Watch: First Quarter GDP Revised Downward
Real gross domestic product increased at an annualized rate of 1.8 percent in the first quarter of 2013, according to the third and final estimate by the Bureau of Economic Analysis.
Economy Watch: Chicago Fed National Activity Index Sees Uptick
The Chicago Fed reported that its National Activity Index (CFNAI) increased to –0.30 in May from –0.52 in April, noting that production- and employment-related indicators drove the uptick.
2013 Most Powerful Brokerage Firms
This month’s real estate research focuses on the state of the brokerage industry. We were surprised by the growth of investment sales from 2010 to 2012, which nearly doubled in volume during the three-year time frame from $148 billion to $267 billion.
‘Economy Watch’ Podcast with Dees Stribling: Ben Bernanke Spooks the Markets
Ben Bernanke spooks the markets, but the housing recovery is still chugging along.
Economy Watch: Most State Unemployment Rates Down
Twenty-five states had unemployment rate decreases, 17 states had increases and eight states and the District of Columbia had no change, the Bureau of Labor Statistics reported.
Economy Watch: Existing Home Sales Spike
Total existing-home sales rose 4.2 percent to an annualized rate of 5.18 million units in May from 4.97 million in April, and are 12.9 percent above the 4.59 million-unit pace in May 2012, according to the National Association of Realtors.