NAR: Housing Signals Some Stabilizing
Housing Signals Some Stabilizing
A gauge of future home sales turned upward, indicating that the housing market is stabilizing, and the country's job market showed healthy signs. The National Association of Realtors' index for pending sales of existing homes increased at a seasonally adjusted annual rate of 1.3% from April to May. The latest index was 10.1% below the year-earlier level. While lower than a year ago, the reading's monthly gain suggests that the housing sector is cooling gently. Separately, initial jobless claims decreased by 2,000 to a seasonally adjusted 313,000 in the week ended July 1. New claims for the week ended June 24 were 315,000, revised from 313,000.
A gauge of future home sales turned upward, indicating that the housing market is stabilizing, and the country's job market showed healthy signs. The National Association of Realtors' index for pending sales of existing homes increased at a seasonally adjusted annual rate of 1.3% from April to May. The latest index was 10.1% below the year-earlier level. While lower than a year ago, the reading's monthly gain suggests that the housing sector is cooling gently. Separately, initial jobless claims decreased by 2,000 to a seasonally adjusted 313,000 in the week ended July 1. New claims for the week ended June 24 were 315,000, revised from 313,000.
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