The Housing Chronicles Blog: BuilderBytes' MetroIntelligence Economic Update for 1/27/12

Friday, January 27, 2012

BuilderBytes' MetroIntelligence Economic Update for 1/27/12

Please click here to see the edition of BuilderBytes for 1/27/12 on the Web.

In this issue of the MetroIntelligence Economic Update, I covered the following indicators:

  • New home sales fall slightly from November to end worst year on record; inventory just 6.1 months at current sales rates
  • Pending home sales ease in December but still above year-ago levels
  • Federal Reserve Open Market Committee opts to keep rates low through at least late 2014
  • FHFA house price index rose by 1% in November but still down 18.8% from its April 2007 peak
  • Durable goods orders surge for second consecutive month in December
  • Economy continuing to improve according to Leading Indicator Index
  • Mortgage applications fall by 5% in latest survey
  • Initial unemployment claims rise by 21,000 in most recent survey

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