Archive for April, 2010

Economic Update – April 26, 2010

Monday, April 26th, 2010




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Last Week in the News

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New home sales rose 26.9% in March to a seasonally adjusted annual rate of 411,000 units from an upwardly revised rate of 324,000 units in February. Economists had expected a pace of 330,000 units. It was the biggest monthly increase in 47 years.

The index of leading economic indicators — designed to forecast economic activity in the next three to six months — rose 1.4% in March after a revised 0.4% gain in February. It was the 12th straight monthly increase and the fastest pace of growth in 10 months.

The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications for the week ending April 16 rose 13.6%. Purchase volume increased 10.1%. Refinancing applications jumped 15.8%.

The producer price index, which tracks wholesale price inflation, rose 0.7% in March, following a 0.6% decrease in February. Economists had expected a 0.4% rise. The increase was largely due to a sharp rise in vegetable prices after a cold snap damaged crops in Florida.

Existing home sales rose 6.8% in March to a seasonally adjusted annual rate of 5.35 million units from 5.01 million units in February. The inventory of unsold homes on the market rose 1.5% to 3.6 million, an 8-month supply at the current sales pace, down from an 8.5-month supply in February.

Orders for durable goods — items expected to last three or more years — fell 1.3% in March after a revised 1.1% increase in February. Excluding volatile transportation-related goods, orders posted a monthly increase of 2.8%.

Initial claims for unemployment benefits fell by 24,000 to 456,000 in the week ending April 17. Continuing claims for the week ending April 10 fell by 40,000 to 4.6 million.

Upcoming on the economic calendar are reports on the housing price index and consumer confidence on April 27, and gross domestic product on April 30.

Click here to visit my website and apply on line:
www.DavidJGarofalo.com



  • wp socializer sprite mask 16px Economic Update   April 26, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   April 26, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   April 26, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   April 26, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   April 26, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   April 26, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   April 26, 2010 | CT Real Estate
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Stamford Stats: Home Values Via Zillow

Tuesday, April 20th, 2010




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Zillow Home Value Index


  • wp socializer sprite mask 16px Stamford Stats: Home Values Via Zillow | CT Real Estate
  • wp socializer sprite mask 16px Stamford Stats: Home Values Via Zillow | CT Real Estate
  • wp socializer sprite mask 16px Stamford Stats: Home Values Via Zillow | CT Real Estate
  • wp socializer sprite mask 16px Stamford Stats: Home Values Via Zillow | CT Real Estate
  • wp socializer sprite mask 16px Stamford Stats: Home Values Via Zillow | CT Real Estate
  • wp socializer sprite mask 16px Stamford Stats: Home Values Via Zillow | CT Real Estate
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Economic Update – April 12, 2010

Monday, April 12th, 2010




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Last Week in the News

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The Institute for Supply Management reported the monthly index of non-manufacturing activity rose to 55.4 in March from 53 in February. A reading above 50 signals expansion. Economists had anticipated a reading of 53.3. The reading was the highest since May 2006.

The National Association of Realtors reported that its pending home sales index, a forward-looking indicator based on signed contracts, rose 8.2% in February after a revised 7.8% decrease in January. The February reading was the largest gain since October 2001.

According to the Federal Reserve, consumer credit debt fell in February by $11.5 billion, an annual rate of 5.6%. Economists had forecast that consumer debt would rise by $500 million. Consumer credit rose in January by $10.6 billion, ending a record 11 consecutive months of decline.

Sales at U.S. retail chains rose 9.1% in March. It was the largest monthly jump since recordkeeping began in 2000. Economists had anticipated a 6.3% increase.

Initial claims for unemployment benefits unexpectedly rose by 18,000 to 460,000 in the week ending April 3. Continuing claims for the week ending March 27 fell by 131,000 to 4.55 million.

The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications for the week ending April 2 fell 11%. Purchase volume increased 0.2%. Refinancing applications fell 16.9%.

The Commerce Department said wholesalers increased their inventories by 0.6% in February following a revised 0.1% rise in January. Sales at the wholesale level rose 0.8% in February, marking the 11th straight monthly gain.

Upcoming on the economic calendar are reports on retail sales on April 14, the housing market index on April 15 and housing starts on April 16.

Click here to visit my website and apply on line:
www.DavidJGarofalo.com



  • wp socializer sprite mask 16px Economic Update   April 12, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   April 12, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   April 12, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   April 12, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   April 12, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   April 12, 2010 | CT Real Estate
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Economic Update – April 5, 2010

Monday, April 5th, 2010




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Last Week in the News

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The Commerce Department reported that consumer spending rose $34.7 billion or 0.3% in February, matching what economists had anticipated. Personal income increased $1.2 billion or less than 0.1%.

The Standard & Poor’s/Case-Shiller 20-city housing price index rose a seasonally adjusted 0.3% in January. It was the eighth consecutive monthly gain and follows a 0.3% increase in December.

The consumer confidence index rose to 52.5 in March from a slightly revised 46.4 in February. Economists had anticipated a reading of 50. The index was benchmarked at 100 in 1985, a year chosen because it was neither a peak nor a trough in consumer confidence.

Factory orders rose 0.6% in February, slightly above the 0.5% increase economists had anticipated. It was the sixth straight gain and follows an upwardly revised 2.5% increase in January.

The Institute for Supply Management reported that the monthly index of manufacturing activity was 59.6 in March after reaching 56.5 in February. It was the eighth straight month of expansion and the best reading since July 2004. A reading above 50 signals expansion.

Total construction spending fell 1.3% to $846.23 billion in February. It was the lowest spending level since November 2002 and followed a 1.4% drop in January.

The unemployment rate held at 9.7% in March. However, employers added 162,000 jobs last month, the most since March 2007. For the week ending March 27, initial claims for unemployment benefits fell by 6,000 to 439,000. Continuing claims for the week ending March 20 fell by 6,000 to 4.6 million.

Upcoming on the economic calendar are reports on pending home sales on April 5, consumer credit on April 7 and wholesale trade on April 9.

Click here to visit my website and apply on line:
www.DavidJGarofalo.com



  • wp socializer sprite mask 16px Economic Update   April 5, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   April 5, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   April 5, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   April 5, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   April 5, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   April 5, 2010 | CT Real Estate
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Homebuyer Tax Credits to Expire – ACT NOW!!!

Friday, April 2nd, 2010




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The Homebuyer Tax Credits Expire Soon

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The homebuyer tax credits will expire soon. If you want to take advantage of these tax credits, you must act now. The tax credits are available to buyers who sign purchase agreements on a new or existing primary residence between December 1, 2009, and April 30, 2010. Buyers have until June 30 to close on their new home.

In addition to offering the $8,000 first-time homebuyer tax credit, the new law also allows a $6,500 credit for repeat or move-up homebuyers who have lived in their primary residence for five years or more.

There is an $800,000 price limit on all homes eligible for the credit. The income limits for all buyers are $125,000 per year for individuals and $225,000 for married couples. The first-time homebuyer credit is available to those who have not owned a home in the previous three years. The credit does not have to be repaid unless the home is sold or ceases to be the primary residence within three years.

I’m committed to meeting your home-financing needs. Call me if you have any questions, or if you would like to get started on a loan application today!

The above content is for informational purposes only and should not be used as a substitute for consultation with a tax advisor. We are not a law firm, nor a CPA firm.

Click here to visit my website and apply on line:
www.DavidJGarofalo.com



  • wp socializer sprite mask 16px Homebuyer Tax Credits to Expire   ACT NOW!!! | CT Real Estate
  • wp socializer sprite mask 16px Homebuyer Tax Credits to Expire   ACT NOW!!! | CT Real Estate
  • wp socializer sprite mask 16px Homebuyer Tax Credits to Expire   ACT NOW!!! | CT Real Estate
  • wp socializer sprite mask 16px Homebuyer Tax Credits to Expire   ACT NOW!!! | CT Real Estate
  • wp socializer sprite mask 16px Homebuyer Tax Credits to Expire   ACT NOW!!! | CT Real Estate
  • wp socializer sprite mask 16px Homebuyer Tax Credits to Expire   ACT NOW!!! | CT Real Estate
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