Weekly Economic Review: New Single Family Home Sales Rise 1.8%

Posted by Laine Smith on 11/30/14 9:37 PM

Topics: Economy

GDP was the biggest highlight last week when the annual growth rate was revised up to 3.9%. There was little movement with the stock and mortgage markets. In housing, we recieved encouraging news with new single family homes sales rising 1.8% from a year ago. 

New_Single_Family_Home_Sales

Last week in the economy:

  • The S&P 500 started the week at 2,064 and climbed 0.22% to end the week at 2,068.
  • Personal Income increased 0.2% in October. Personal income is up 3.6% for the year. 
  • New single family homes rose 0.7% in October. Sales are up 1.8% from a year ago. 
  • New orders for durable goods rose 0.4% in October. Orders are up 5.5% from a year ago.
  • Real GDP was revised to a 3.9% annual growth rate in Q3 from a prior estimate of 3.5%

What's on the economic calendar for the week of December 1, 2014:

  • Monday: ISM manufacturing index
  • Thursday: Jobless claims
  • Friday: Employment Situation and International Trade

 

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Our trusted source for all economic news is First Turst Portfolios out of Wheaton, IL. For greater insights on these figures check out their blog here.

 

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