U.s. Housing Prices And Economic Data

By Author: Bruce Wills
Total Articles: 52
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U.S. housing prices and economic data

Home prices in twenty American cities rose by 0.6 percent, as per the reports given by S&P Case-Schiller Home-price index. This is the first gain since December 2006 and the consumer confidence rose 57.9 points in April as compared to 53.4 in March, which is the highest since September 2008.Labour market showed a reduction in jobless data from 459,000 in previous week to 448,000 in the last week of April.

Federal officials pledged to keep the interest rates low for an extended time period and Fed said the labor market is stabilizing instead of claiming that it is beginning to improve. The U.S. economy expanded 3.2% in the first quarter of the year and consumer spending accounted for 70% of the economic activities.

Speculations over the jobs report

The nonfarm payroll report for the month of April will be released on Friday and many are expecting it to show added jobs. According to the polls conducted by Reuters with top economists the Friday jobs report will show an increase of 200,000 jobs in April as compared to 162,000 jobs gained in March. As per the ...
... forecast, the unemployment rate will be held at 9.7% in April.

According to the ADP reports, released on Wednesday, the private sector employment and the U.S. government‘s monthly payroll reports showed an addition of at least 30,000 jobs in the month of April, whereas, in March it showed a loss of 23,000 jobs. On the labor front the number is expected to fall from 448,000 in the previous week to 440,000.

It is assumed that the March pending home sales will be 4% more than the previous month. Other economic reports to be released in the week will be based on manufacturing and service sectors.

U.K. house prices may be up 5% in 2010

The Centre for Economics and Business Research said the low interest rates and the increase in demand for homes may increase the house prices by 5% in U.K. The cheap mortgages driven by the cheap rates of 0.5 % will help in increasing home prices. In a TV interview Prime Minister Gordon Brown said the rates will be kept low for home owners and buyers. Three factors are supporting home prices - the low rates of house building, the cheap mortgage rates and the easy house affordability.

House prices in Australia increases 20%

House prices in Australia increased by almost 20 percent in the first three month of the year. It is speculated that the Australian Central Bank may raise rates again in the policy meeting scheduled to be held on Tuesday. House prices were up 4.8 percent from last quarter of the year and when compared to previous year the prices in the month are twenty percent more than a year earlier. Australia did not have recession in 2008 - 2009, mostly due to the rich mineral resources. The interest rate in Australia was up by 1.25 to 4.25 percent since October 7 and in the policy meeting it is expected that another quarter of points will be added.

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