What I Saw Last Week
The Northwest Multiple Listing Service released its data on April home transactions in the region and, as I had expected, we saw increases in active listings versus March and sale prices continued to rise across the region.
Active listings, although still well below where they need to be, did see an uptick in April which was pleasing. Sales and prices both jumped last month which is actually good and bad. Sales and prices cannot continue this upward trajectory unless we see more homes for sale.
U.S. Initial Unemployment Claims increased to 265,000 for the week ending May 2 from an unrevised 262,000 for the week ending April 25. I had expected to see a larger increase to 280,000.
There is no doubt that businesses have actively cut down on their layoff activity. The four-week moving average for initial claims declined to 279,500 from 283,750. For…
View original post 397 more words