Weekly Housing Statistics from Fairfax Homes 5/24-5/28
Posted by Super Admin on Monday, May 31st, 2010 at 7:31pm.
24 – Resales of homes rose 7.6% during April as Buyers rushed to complete sales before the expiration of a tax credit. However, the inventory of unsold homes surged to an 8.4-month supply [nationally not locally] – an unwelcome development. The Median price was up 4% in the past year [much higher locally]. Sales of distressed homes were down in April accounting for 33% of sales v. 45% a year earlier.
26 – New-home sales rose 14.8% in April to their highest level since May 2008. New-homes sales are up 47.8% compared with a year ago. The inventory of unsold homes lowered to 5.0-months from 6.2-months in March.
26 – Orders for durable goods rose 2.9% in April on stronger demand for airplanes and communications equipment.
28 – Personal income outpaced consumer spending in April, meeting expectations.
28 - Oil closed the week at $73.97 up from $68.01 last Friday.
Rates held at their incredibility low levels this week. Next week has the all important jobs report on Friday, which can move rates depending on the data contained in the report.
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