Friday, March 13, 2015

Housing Update

Tightening labor market conditions are another sign of an improved economy. Labor mar ket confidence could help the Fed decide to raise policy rates in June.

The dollar continues to improve against overseas currency like the yen and euro. Nearing 12-year highs, the strong dollar is good for interest rates.

Wholesalers report more inventory and decreased sales for January. Blamed by economists on the plunge in oil prices, the changes are good for interest rates.

The number of new homes being built suggests that housing growth continues. The type of homes built points to interest in home ownership by first-time buyers.

Millennials accounted for 32% of all home purchases in 2014. With a median age of 29 and income of $76,900 they were also the largest percentage of buyers.

The housing market continues to rebound. Foreclosure inventory decreased 33.2% and completed foreclosures dropped 22.5% year-over-year in January.

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