The Patch of Land Blog

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The Equilibrium Report: 12/22/14 to 12/26/14

12/22 - Existing Home Sales (Nov)

Sales of previously owned homes fell by 6.1%. The seasonally adjusted rate is 4.93 million. First time home buyers rose to 31% from the average of 29%.

We are starting to see a slowdown due to the winter months, but the rise in first time home buyers is great. Many are predicting they will start to take more of the supply available in the next couple months.



12/23 - New Home Sales (Nov), Personal Spending/ Income (Nov), Reuters/Umich Consumer Sentiment-Final (Dec)

New Home Sales (Nov)

New home sales came in at 438K Vs. the 460K estimated. New home supply rose by 1.4% last month to 213K, which is the highest since May 2010.

Although home stats are lower this month and going into December, many believe we will have a pick up next year after the winter and as the labor market continues to strengthen.


Personal Spending/ Income (Nov)

Consumer spending rose 0.6% after an increase of 0.3% in October. Income increased by 0.4%.  Positive signs that people are gaining confidence in our economy and showing that inflation will start to rise and possible giving way to a rate increase next year.


Reuters/Umich Consumer Sentiment-Final (Dec)

The final reading for consumer sentiment was revised down to 93.6 from 93.8. This level is the best showing since January 2007. Overall this is positive and showing people are will start spending; potentially moving into bigger investment such as real estate.



12/24 - Initial and Continuing Jobless Claims

Initial jobless claims declined by 9k to 280K. This best estimates set at 290K. People continuing jobless claims rose by 25K to 2.4 million. These are strong labor market numbers, showing the US economy is doing well even though we are going thru a global slowdown.

If you want to learn more, take a look at some of the most commonly asked questions we receive about real estate crowdfunding on a daily basis and find out why so many people are crowdfunding real estate projects across the country with Patch of Land.
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