The Patch of Land Blog

Learn about all the latest happenings.

The Equilibrium Report: 12/29/14 to 01/02/15

12/30 - S&P/Case Shiller Home Price Index (Oct), Consumer Confidence (Dec)

S&P/Case Shiller Home Price Index (Oct)

The 10 metropolitan area index rose by 4.4% year over year and the 20 metropolitan area rose 4.5%. The price increase was less than the previous month for both 10 and 20 metropolitan area.  Prices are still rising and many expect for prices to accelerate after the winter season.

http://www.cnbc.com/id/102300725

 

Consumer Confidence (Dec)

The consumer confidence index his 92.6 in December missing the expected reading of 93. This number is still good since it rose past last month's figure of 91. This is a positive indicator showing how many are still bullish on the economy and the labor market.

http://www.cnbc.com/id/102301263

 

 

12/31 - Initial and Continuing Jobless Claims, Pending Home Sales (Nov)

Initial and Continuing Jobless Claims

Initial jobless claims rose by 17K to a seasonal adjusted 298K which was higher than the estimated amount of 290K. Continuing claims fell 53K to 2.4 million.  Even with a jump in new claims we still see the labor market with some strength many believe will be carried into 2015.

http://www.wsj.com/articles/u-s-jobless-claims-rise-to-298-000-1420032862

 

Pending Home Sales (Nov)

National Association of Realtors pending home sales rose 0.8% in November to 104.8. This beat the estimated level of 0.5%.  This is good news since this measures the amount of contracts signed to buy previously-owned homes.

http://www.forbes.com/sites/erincarlyle/2014/12/31/pending-home-sales-up-in-november-for-third-straight-month-says-nar/

 

 

01/02 - Construction Spending (Nov)

Construction spending fell by 0.3%, which fell short of the estimated 0.3% rise economist shot for. Much of the drop was by government and business spending, but home construction remained stable with a rise of 0.9% in residential construction.

http://www.reuters.com/article/2015/01/02/us-usa-construction-spending-idUSKBN0KB0UJ20150102



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