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  • Wed, Jan 16 2019
  • 3:48 PM » US labor market tightens, wages grow moderately, Fed says
    Published Wed, Jan 16 2019 3:48 PM by CNBC
    Labor markets tightened across the U.S. as businesses struggled to find workers at any skill level and wages generally grew moderately.
  • 3:48 PM » UK PM May wins confidence vote; now to search for Brexit consensus
    Published Wed, Jan 16 2019 3:48 PM by Reuters
    Prime Minister Theresa May's government won a confidence vote in the British parliament on Wednesday, clearing the way for her to attempt to forge a consensus among lawmakers on a Brexit divorce agreement.
  • 3:46 PM » Student loan debt is keeping young people from buying homes, Fed study finds
    Published Wed, Jan 16 2019 3:46 PM by CNBC
    Home ownership among all Americans for the study period declined 4 percentage points, from a peak of 69 percent in 2005 to a trough of 65 percent in 2014. Those in the 24-to-32 group saw a plunge from 45 percent to 36 percent.
  • 3:46 PM » Lawler; Early Read on Existing Home Sales in December: Big Drop
    Published Wed, Jan 16 2019 3:46 PM by Calculated Risk Blog
    From housing economist Tom Lawler: Early Read on Existing Home Sales in December: Big Drop Based on publicly-available local realtor/MLS reports released across the country through today, I project that existing home sales as estimated by the National Association of Realtors ran at a seasonally adjusted annual rate of 4.97 million in December , down 6.6% from November's preliminary estimate and down 10.6% from last December's seasonally adjusted pace. On the inventory front, local realtor/MLS data, as well as data from other inventory trackers, suggest that the inventory of existing homes for sale in December was up by about 5.5% from last December. Finally, local realtor/MLS data suggest that the median US existing single-family home sales price last month was up by about 2.7% from last December. CR Note: Existing home sales for December are scheduled to be released on Tuesday, Jan 22nd. Based on this estimate, December sales, on a seasonally adjusted annual rate basis, will be at the lowest level of sales since November 2015 (and that month was impacted by a regulation change).
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 2:15 PM » Home prices make smallest gains in nearly 4 years, but rents are hot
    Published Wed, Jan 16 2019 2:15 PM by CNBC
    The slowdown in home sales and home price gains in most major U.S. markets is causing the opposite effect in the rental market, especially for single-family rental homes. Those rent prices increased 2.9 percent annually in November 2018.
  • 2:14 PM » Sacramento Housing in December: Sales Down 22% YoY, Active Inventory up 36% YoY
    Published Wed, Jan 16 2019 2:14 PM by Calculated Risk Blog
    From SacRealtor.org: December 2018 Statistics - Sacramento Housing Market - Single Family Homes; Real estate market slows for holiday season December closed with 1,104 total sales, a 15.3% decrease from the 1,304 sales of November. Compared to the same month last year (1,408), the current figure is down 21.6% . ... The Active Listing Inventory decreased, falling 20.8% from 2,714 to 2,149 units. [Note: Compared to December 2017, inventory is up 36.4% ] The Months of Inventory dropped slightly to 1.9 Months. This figure represents the amount of time (in months) it would take for the current rate of sales to deplete the total active listing inventory. ... The Average DOM (days on market) continued its increase, rising from 36 to 38 from November to December. The Median DOM also increased, rising from 24 to 25. "Days on market" represents the days between the initial listing of the home as "active" and the day it goes "pending." Of the 1,104 sales this month, 56.3% (621) were on the market for 30 days or less and 78.8% (869) were on the market for 60 days or less. emphasis added CR Note: Inventory is still low - months of inventory is at 1.9 months, probably closer to 4 months would be normal - however inventory is up significantly year-over-year in Sacramento.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 2:13 PM » Why Mortgage Lending at Wells Fargo, Chase and Citi Plunged
    Published Wed, Jan 16 2019 2:13 PM by www.realtor.com
    With earnings from three of the four biggest banks in, one metric stands in sharp relief: Mortgage lending just keeps plunging. The post Why Mortgage Lending at Wells Fargo, Chase and Citi Plunged appeared first on Real Estate News & Insights | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 11:52 AM » More than 46,000 IRS employees called back to work to process refunds, calls
    Published Wed, Jan 16 2019 11:52 AM by CNBC
    The IRS is summoning some of its furloughed employees back to work as tax season approaches. Here's why it won't necessarily make your filing season less painful.
  • 10:07 AM » Homebuilder sentiment turns higher in January after mortgage rates drop
    Published Wed, Jan 16 2019 10:07 AM by CNBC
    The downturn in mortgage interest rates that began in November finally has single-family homebuilders feeling better about their business. Builder sentiment rose two points to 58 in January on a monthly index from the National Association of Home Builders.
  • 9:36 AM » More jobs are posted in January than any other month, but your odds of landing one of them are lower
    Published Wed, Jan 16 2019 9:36 AM by CNBC
    Data from ZipRecruiter shows that January see the largest number of open job postings during the year, but the first month of the year is also when the most job seekers turn out. Applications rose 40 percent from December.
  • 8:50 AM » US import prices fell 1.0% in December, vs 1.3% drop expected
    Published Wed, Jan 16 2019 8:50 AM by CNBC
    US import prices fell 1.0% in December, vs 1.3% drop expected|| 105681834
  • 8:23 AM » Guggenheim's Scott Minerd says Fed will pause to start 2019
    Published Wed, Jan 16 2019 8:23 AM by Reuters
    The Federal Reserve is likely to hold its interest rate hikes on pause for the start of 2019 in order to stabilize markets, given economic growth is set to slow and financial conditions having tightened, Guggenheim Partners Global Chief Investment Officer Scott Minerd said on Wednesday.
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