The Weekly Economic & Real Estate Forecast – 09/07/15 to 09/11/15

The Windermere Economist

U.S. Construction Spending rose 0.7% in July after increasing an upwardly revised 0.7% (from 0.1%) in June. I had forecast an increase of 0.6%.

Construction SpendingPrivate residential construction increased 1.1% in July, up from a 0.9% increase seen in June. Spending on new structures increased 1.2% in July, down from +1.4% in June. Spending has been increasing by roughly 1.3% each month since April. Home improvement project spending rose by 0.9% after declining 0.1% the previous month.

In aggregate, construction spending remained robust in July and where I expected to see it.

The Northwest Multiple Listing Service released its data regarding homes sales in Washington State and the results were as expected with listing activity declining, and sales and sale prices higher.

MLS1MLS2MLS3MLS4The report suggests to me that we will see a slowdown in sales as we move into the fall. This is a function of declining pending sales activity in…

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