Five noteworthy figures from the previous week
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The decline of existing home sales in April.
Demand has outstripped supply in the housing market for some time. According to the National Association of Realtors, the average home for sale in April stayed on the market for only 26 days. The NAR says first-time buyers were involved in 33% of home purchases last month; the historical mean is 40%.
Source: MarketWatch 1
When the next recession could begin, according to a Zillow Research forecast.
The real estate database company just polled more than 100 economists and housing industry analysts, and 48% thought the next downturn would start two years from now. Twenty-four percent felt a recession would arrive in 2019, while 14% saw one coming in 2021.
Source: Zillow Research 2
The one-month advance for the S&P SmallCap 600.
This index, representing S&P Dow Jones Indices’ measurement of the small-cap segment of the stock market, has outgained even the record-setting Russell 2000 in the past 30 days.
Source: Wall Street Journal 3
How much the price of gas has risen in a year.
On May 25, 2017, a gallon of regular unleaded averaged $2.37 nationally. Friday, the national average price was up to $2.97.
Source: AAA Gas Prices 4
The yearly gain of core capital goods orders.
Across the 12 months ending in April, American companies invested notably in U.S.-made business equipment (core capital goods orders exclude aircraft and defense industry orders). Last week, the Commerce Department said that it recorded a 1.0% April advance for the category.
Source: Reuters 5
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This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. Please note – investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment.
1 – www.marketwatch.com/story/existing-home-sales-tumble-as-supply-crunch-squeezes-hard-2018-05-24/ [5/24/18]
2 – www.zillow.com/research/experts-2020-next-recession-19994/ [5/22/18]
3 – markets.wsj.com/us [5/25/18]
4 – gasprices.aaa.com/ [5/25/18]
5 – www.reuters.com/article/us-usa-economy/u-s-business-spending-on-equipment-improving-idUSKCN1IQ1OM [5/25/18]