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Economy improves but recovery hurdles persist
Job seekers stand in line to speak with employers at a job fair in San Francisco, California November 9, 2011.
Credit: Reuters/Robert Galbraith
WASHINGTON |
WASHINGTON (Reuters) - Sales of previously owned homes rose to an 11-month high in December and the supply of properties on the market dropped to a near 7-year low, an
industry group said on Friday, pointing to a nascent recovery in the housing market.
The National Association of Realtors said existing home sales increased 5 percent month over month to an annual rate of 4.61 million units. November's sales pace was revised down to a 4.39 million-unit pace, previously reported as a 4.42 million-unit rate.
Economists polled by Reuters had expected sales to rise to a 4.65 million-unit sales pace. Sales in December were up 3.6 percent from a year ago. A total of 4.26 million homes were sold in 2011, up 1.7 percent from the prior year.
The third straight month of gains in sales added to hopes that a tentative recovery in the housing market was starting take shape, but progress will be painfully slow given a glut of unsold properties that is weighing down on prices.
(Reporting by Lucia Mutikani)
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“The advance number of actual initial claims under state programs, unadjusted, totaled 521,613 in the week ending January 14″
Of course, the numbers look better.
They will be higher again next week.
Maybe if the government made every Monday a holiday, there were always be better numbers!
What say you about….(I know must drive you nuts hearing that phrase) BTW not Fux news head
byrond2 wrote:
From the same unemployment report today:
“The advance number of actual initial claims under state programs, unadjusted, totaled 521,613 in the week ending January 14″
Let me answer for you…a Bush loving rightie spinning a conspriracy right??? But what he wrote was actually in the report…Huh?? Tick Tock…
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