Week Through 8/7/09 Reston homes
Posted by Super Admin on Tuesday, August 11th, 2009 at 8:40am.Aug 3 – Conditions for the nations manufacturers continued to get better in July. The ISM manufacturing index is the strongest since September. Aug 5 – Orders for U.S. made factory goods were boosted in June, outperforming expectations. Aug 5 – The service industry contracted for the 10th consecutive month in July. The experts were expecting a small increase in the non-manufacturing index. Aug 7 – In another hopeful sign the recession is easing, the government estimated that fewer jobs were lost in July than in any other month in nearly a year. The unemployment rate dropped to 9.4% from 9.5%. While that is a small decrease, economists were expecting the rate to increase. Since the recession began in December 2007, 6.7 million jobs have been lost. That factors less here in Fairfax because of how insulated we are from the rest of the country. Aug 7 - Oil closed the week at $70.93 a barrel, up from $69.45 last Friday. The improving job market spiked interest rates on Friday rising a good .25% landing in the 5.5% range; still great in any scenario, but they could be on the rise if the economy is truly coming out of the recession. Fairfax homes and Arlington Va homes for sale continue to perform. Please email or call me as I specialize in these locations.
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