by Calculated Risk on 5/31/2024 08:30:00 AM The BEA released the Personal Income and Outlays report for April: Personal income increased $65.3 billion (0.3 percent at a monthly rate) in April, according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI) —personal income less personal current taxes—increased $40.2 billion and…
by Calculated Risk on 5/30/2024 08:09:00 PM Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Friday:• At 8:30 AM ET, Personal Income and Outlays, April 2024. The consensus is for a 0.3% increase in personal income, and for a 0.3% increase in personal spending. And for the Core PCE price index…
by Calculated Risk on 5/30/2024 11:25:00 AM Today, in the Calculated Risk Real Estate Newsletter: Final Look at Local Housing Markets in April and a Look Ahead to May Sales A brief excerpt: In April, sales in these markets were up 7.6% YoY. In March, these same markets were down 10.0% year-over-year Not Seasonally Adjusted…
by Calculated Risk on 5/29/2024 08:02:00 PM Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Thursday:• At 8:30 AM ET, The initial weekly unemployment claims report will be released. The consensus is for 218 thousand initial claims, up from 215 thousand last week. • Also at 8:30 AM, Gross Domestic Product,…
by Calculated Risk on 5/29/2024 05:00:00 PM From the Las Vegas Visitor Authority: April 2024 Las Vegas Visitor Statistics With strength in both leisure and conventions segments, Las Vegas visitation in April exceeded 3.5M, up +3.8% YoY. Convention attendance saw a YoY increase of 36% related in part to scheduling differences of some shows such…
by Calculated Risk on 5/29/2024 10:34:00 AM Today, in the Calculated Risk Real Estate Newsletter: Inflation Adjusted House Prices 2.2% Below Peak Excerpt: It has been 18 years since the bubble peak. In the March Case-Shiller house price index released on Tuesday, the seasonally adjusted National Index (SA), was reported as being 72% above the…
by Calculated Risk on 5/28/2024 07:12:00 PM Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Wednesday:• At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index. • At 10:00 AM, Richmond Fed Survey of Manufacturing Activity for May. • At 2:00 PM,…
by Calculated Risk on 5/28/2024 01:35:00 PM Two key points:1) There is a clear seasonal pattern for house prices.2) The surge in distressed sales during the housing bust distorted the seasonal pattern. This was because distressed sales (at lower price points) happened at a steady rate all year, while regular sales followed the normal seasonal…
by Calculated Risk on 5/27/2024 06:10:00 PM Weekend:• Schedule for Week of May 26, 2024 Tuesday:• At 9:00 AM ET, S&P/Case-Shiller House Price Index for March. The consensus is for the Case-Shiller National Index to increase 6.8% YoY, up from 6.4% YoY in February. • Also at 9:00 AM, FHFA House Price Index for March….
by Calculated Risk on 5/27/2024 09:21:00 AM Altos reports that active single-family inventory was up 2.9% week-over-week. Inventory is now up 20.3% from the February bottom, and at the highest level since August 2020. Click on graph for larger image. This inventory graph is courtesy of Altos Research. As of May 24th, inventory was at 595…