Opinions Uncensored

Housing Inventory Tracking

It appears existing home inventory has bottomed in some areas, and might be close to bottoming nationally. For example, in May, inventory was up 8.3% year-over-year (YoY) in California.   However inventory nationally was still down 6.1% YoY in May.But this isn't like in late 2005, when...

Hotels: Occupancy Rate decreased Year-over-Year

From HotelNewsNow.com: STR: US hotel results for week ending 16 JuneThe U.S. hotel industry reported mixed year-over-year results in the three key performance metrics during the week of 10-16 June 2018, according to data from STR.In comparison with the week of 11-17 June 2017, the industry...

Earlier: Philly Fed Manufacturing Survey "Suggest Continuing Growth" in June

Results from the June Manufacturing Business Outlook Survey suggest continued expansion of the region’s manufacturing sector. All the broad indicators remained positive, although the indicators for general activity and new orders fell notably. The firms continued to report higher prices for purchased inputs and their own manufactured goods. Expectations for the next six months continued to moderate but remain positive overall. The diffusion index for current general activity remained positive but decreased 15 points this month. Almost 37 percent of the manufacturers reported increases in overall...

Weekly Initial Unemployment Claims at 218,000

The DOL reported:In the week ending June 16, the advance figure for seasonally adjusted initial claims was 218,000, a decrease of 3,000 from the previous week's revised level. The previous week's level was revised up by 3,000 from 218,000 to 221,000. The 4-week moving average was 221,000, a...

Thursday: Unemployment Claims, Philly Fed Mfg

Thursday:• At 8:30 AM ET, The initial weekly unemployment claims report will be released.  The consensus is for 220 thousand initial claims, up from 218 thousand the previous week.• At 8:30 AM, the Philly Fed manufacturing survey for June. The consensus is for a reading of 26.0, down from 34.4..

AIA: "Architecture firm billings strengthen in May"

Note: This index is a leading indicator primarily for new Commercial Real Estate (CRE) investment. From the AIA: Architecture firm billings strengthen in MayArchitecture firm billings grew in May, marking the eighth consecutive month of solid growth, according to a new report today from The...

A Few Comments on May Existing Home Sales

Earlier: NAR: "Existing-Home Sales Backpedal, Decrease 0.4 Percent in May"A few key points:1) As usual, housing economist Tom Lawler's forecast was closer to the NAR report than the consensus. See: Lawler: Early Read on Existing Home Sales in April.   The consensus was for sales of 5.56...