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April 2019

New Home Sales Jump 7 Percent In April But Momentum Is Fading

The Census Bureau reported new home sales in April which rose 7 percent compared to the same time a year ago. Sales (contract signings) for April posted at a seasonally adjusted annual rate of 673,000 units. This was close to expectations, but interestingly the April figure represented a rather large 7 percent drop from revised March numbers. The sales numbers for the previous three months were revised higher. The median price of a new home rose in April to $342,200, while the average price of a new home contracted in April rose to $393700. This [...]

Existing Home Sales Decline For 14th Consecutive Month

The National Association of Realtors reported existing home sales for April which came in short of expectations. Existing sales in April posted at a seasonally adjusted annual rate of 5.19 million units. This was 0.4 percent lower than March and 4.4 percent lower than April of 2018. According to NAR the median price of an existing home rose 3.6% in April to $267,300. The average price of an existing home in the U.S. rose 2.5% to $305,200. The inventory of existing homes for sale in April stood at 4.2 months, up 5% from a year [...]

Denton County Home Sales Continue Spring Rebound In April

Denton County home sales enjoyed a continued spring rebound in April as low mortgage rates fueled strong demand for new homes and improved affordability for prospective buyers. Home sales in Denton County jumped 7 percent from the same time last year, better than the 3 percent gain seen in the DFW area during April. The average price of a Denton County home declined just slightly in April to roughly $358,000. Closings of new construction rose 13 percent while sales of used homes improved 6 percent. Home sales in the City of Denton rose about 2 [...]

Hoisington Quarterly Review: Parallels of Past Fed Mistakes

Hoisington Investment Management has released their latest Quarterly Review, and it's certainly worth a read if you want to understand the Federal Reserve's capitulation on policy normalization and the stagnating global economy. The global economic slowdown should really not be surprising considering the massive amounts of stimulus by global central banks which have resulted in massive amounts of debt and economic bifurcation. The problem with quantitative easing and all of the central bank intervention is that liquidity has not not been used for productive, organic growth. As the debt keeps piling up, the economic benefit [...]

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