Weekly Housing Statistics from Fairfax Homes 6/29-7/9
Posted by Super Admin on Friday, July 16th, 2010 at 8:40am.Jun 29 – Home prices rose 3.8% in the past year in 20 major cities, according to the Case-Shiller home price index. April’s increase was the first after six straight monthly declines. This is consistent for Fairfax homes as well.
29 – Consumer confidence plummeted in June on increasing worries about jobs and the economy.
1 – As expected, new sales contracts on existing home fell sharply in May after the federal tax credit expired at the end of April. The pending home index plunged 30% after rising 23% between January and April. This index is an indicator of sales of existing homes, which are recorded at time of the closing.
2 – Private payrolls expanded in June by 83,000 v. forecast of 115,000. The unemployment rate fell to 9.5%, the lowest since July 2009.
8 – According to the International Monetary Fund, the U.S. economy recovery is becoming increasingly well established but the unemployment rate will stay above 9% through 2011.
9 - Oil closed the week at $76.09. It still costs a lot to view homes around Vienna, Fairfax, Reston, Chantilly, Centreville, Oakton, and Arlington, VA homes for sale.
Rates remain at or near 50-year lows with refinancing opportunities available to lower your interest rate and shorten mortgage terms [30 years to 20, 15 or even 10 years].
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