[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Mail]  [Sign-in]  [Setup]  [Help]  [Register] 

Fort Hood jihadist shooter Nidal Hassan is ‘gay’ and wants a sex-change operation

Merkel: Yeah, I guess we should spend that extra money on defense after all

Exclusive — President Trump Previews Congressional Address and Pathway on Obamacare Repeal, Tax Cuts, Border Wall

Bush daughter headlines Planned Parenthood fundraiser (Barbara Pierce Bush)

Has anybody else had or heard of this kind of sleep pattern?

Yes, I’m a Nazi. And how are you?

Stockman: "After March 15 Everything Will Grind To A Halt"

Is Gun Ownership a Right?

Trump's budget will slash EPA funding and other agencies to pay for massive military expansion – but won't cut Social Security or Medicare

JEFF SESSIONS Investigate this guys death

Andrew Breitbart Explains the Evil of the Democrats

Ex-congregants reveal years of ungodly abuse

Retail Apocalypse 2017

MSNBC 'Its Our Job To Control What People Think'

Former Iran President "the contemporary U.S. belongs to all nations."

Univision’s Jorge Ramos Tells Latinos America Is “Our Country, Not Theirs”

Morning Joe sings Ode To Trump, peace love and understanding

Performance Art Gone Awry Raises a Big Stink at AvantGarden

Where did Steve Bannon get his worldview? From my book.

14 Facts You May Not Know About Johnny Carson

Bill Paxton Dead at 61 Due to Complications from Surgery

House Democrats plan to troll Trump at big speech

Executive Order watch: the regulatory reform agenda

An alarming 66 per cent of Germans are afraid they will become the victim of a terrorist attack

Trump won’t go to White House Correspondents Association Dinner this year

Trump won’t go to White House Correspondents Association Dinner this year

Northern Calif. counties buck state's ‘sanctuary’ trend

Pope cuts penalties for paedophile priests - including one let off with just a lifetime of prayer for abusing five young boys

Al Gore has sold more than $37 million worth of Apple stock in February

Trump supporters wave Russian flags at CPAC (MRGA)

T’S HAPPENING: DHS Announces Contracts For Border Wall By Mid-April

Most Utah young adults ill-prepared for workforce, ineligible for military

Man In Chimp Suit Goes Wild In Tokyo Zoo, Taken Down By Tranquilizer Dart (Video)

Transgender boy wins in first round of girls tournament

Alan Dershowitz: Why I Will Leave Democratic Party If Keith Ellison Is Elected DNC Chairman

White House bars several media outlets from press conference

Why therapists are having such a hard time talking about Trump

Trump to spare U.S. 'dreamer' immigrants from crackdown (Amnesty)

The popularity of Starbucks has plunged since they decided to take on politics

Ginsburg offers praise for...Neil Gorsuch?

Bannon says Trump’s Cabinet of billionaires is “selected for a reason . . . deconstruction”

Most Republicans Oppose Federal Interference With Marijuana Legalization

Pot-Shop Cop Reinstatement Gives Police Black Eye

Strangle the Bastard Child of Prohibition: Abolish the ATF!

Fighting for the falsely accused

Pat Buchanan: Is Secession a Solution to Cultural War?

Abortionist Willie Parker Aborts Up to 45 Babies a Day and Claims to be a Christian

Norma McCorvey, Jane Roe of Roe v. Wade, Passes Away: She Never Had an Abortion and Became Pro-Life

When the Beatles Brought Psychedelia to Prime Time

Fox News Channel's Alan Colmes Dies at Age 66


Status: Not Logged In; Sign In

Business
See other Business Articles

Title: Pending Sales of U.S. Existing Homes Increased 4.1% in March
Source: Bloomberg
URL Source: http://www.bloomberg.com/news/2012- ... es-increased-4-1-in-march.html
Published: Apr 26, 2012
Author: Lorraine Woellert
Post Date: 2012-04-26 11:57:08 by Brian S
Keywords: None
Views: 262

Signed contracts to buy U.S. homes rose more than forecast in March as low interest rates drew buyers back into the market.

The index of pending home purchases rose 4.1 percent to 101.4, the highest level since April 2010, after a 0.4 percent gain in February that was revised from a previously estimated 0.5 percent drop, the National Association of Realtors reported today in Washington. The median forecast of 43 economists surveyed by Bloomberg News called for a 1 percent rise in the measure, which tracks contracts on previously owned homes.

An improved labor market and mortgage rates near historic lows are helping to stabilize housing. At the same time, the industry remains the economy’s weakest link, depressed by the threat of more foreclosures, stricter lending standards, and lower property values.

“It’s good news,” said Sean Incremona, senior economist at 4Cast Inc. in New York. “It does suggest that improvement in the housing market is continuing.”

Estimates for March pending sales ranged from a drop of 3.7 percent to an increase of 4 percent in the Bloomberg survey.

Stocks climbed after the figure, with the Standard & Poor’s 500 Index rising 0.1 percent to 1,392.57 at 11:33 a.m. in New York. The S&P Supercomposite Homebuilders (S15HOME) Index increased 2.1 percent. PulteGroup Inc. rallied 5.1 percent after the homebuilder’s loss was less than forecast. Leading Indicator

Pending home sales are considered a leading indicator of progress in real estate because they track contract signings. Purchases of existing homes are tabulated when a contract closes, typically a month or two later, and made up about 93 percent of the housing market last year.

Compared with a year earlier, March pending home sales climbed 10.8 percent after a 14.9 percent surge in February.

Two of four regions saw an increase in pending home sales from the prior month, led by an 8.7 percent jump in the West, today’s report showed, while the South posted a 5.9 percent gain.

Housing is showing uneven signs of progress. This week, the Federal Housing Finance Agency, which regulates Fannie Mae and Freddie Mac, reported a February increase in home prices, up 0.4 percent from a year earlier, the first annual gain since July 2007. Home Prices

The S&P/Case-Shiller index of property values fell 3.5 percent for the year ended in February.

Sales of previously owned houses in March fell for the third time in four months, from a 4.6 million annual rate to 4.48 million, the National Association of Realtors reported earlier this month.

Demand for new homes also dipped in March. Homes sold at a 328,000 annual rate, down from an upwardly revised 353,000 in February, which was the highest in almost two years, the Commerce Department reported.

To hold down borrowing costs, Federal Reserve policy makers say they will continue to swap $400 billion in short-term securities with long-term debt to lengthen the average maturity of the central bank’s holdings, a move dubbed Operation Twist. ‘Depressed’

“Despite some signs of improvement, the housing sector remains depressed,” Federal Reserve officials said in a policy statement yesterday.

Underlying the uneven housing numbers is an overall improvement in consumer confidence, said Farooq Kathwari, chief executive officer of Ethan Allen Interiors Inc. (ETH)

“I would go mad, crazy,” looking at housing data every day, Kathwari said in an April 24 earnings call. “So I don’t look at them every day because I’ve got to plan three, six months, a year from now,”

The home furnishings company, based in Danbury, Connecticut, reported an 8 percent year-over-year increase in net sales for the quarter ended March 31, to $175.9 million. “Three, four years back we decided to build a 240,000 square foot plant in Mexico. If we had not done it, we would not be able to deliver the products we have,” Kathwari said. Subscribe to *Obamanomics On Parade*

Post Comment   Private Reply   Ignore Thread  


[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Mail]  [Sign-in]  [Setup]  [Help]  [Register] 

Please report web page problems, questions and comments to webmaster@libertysflame.com