June 08, 2011
Ohio Real Estate
A second chance for better news? We'll see new reports this week on housing and inflation. Here's what to watch:
After last week's disappointing Housing Starts and Building Permits, we'll see more housing news this week. First up is the New Home Sales report on Tuesday, followed by the Pending Home Sales report on Friday. I'll be watching closely to see how these reports come in and how they impact the markets.
We'll also get another read on the economic recovery with Wednesday's Durable Good Orders, which gives us an update on consumer and business buying behavior on big-ticket items.
On Thursday, the markets will see the latest report on Gross Domestic Product (GDP) - which is the broadest measure of economic activity.
The Jobless Claims report also comes out Thursday. As stated above, the report released last week came in better than expected and the lowest number of unemployment claims in a month. That said, we still have a lot of wood to chop in terms of a labor market recovery - and we all know that this is the key factor to an improving housing market as well.
The big news of the week will be released on Friday in the Personal Consumption Expenditures report, which is the Fed's favorite gauge of inflation. This report is closely watched and could move the markets, especially after the inflation concerns indicated in last week's release of the Empire State Manufacturing Index.
Finally, Friday will also provide a look at reports on Consumer Sentiment, Personal Spending, and Personal Income. Remember: Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve, while strong economic news normally has the opposite result.
- University Heights OH Real Estate - Peter Greiner represents buyers and sellers from Shaker Heights and Cleveland Heights through the entire Chagrin Valley - Pepper Pike, Hunting Valley, Gates Mills, Chagrin Falls.