Wells Fargo Weekly Economic & Financial Commentary – July 24, 2015
Housing Market Still Showing Strength
- June existing home sales increased 9.6 percent from a year ago. Other housing market metrics have also pointed to expansion. Median existing home prices are up 6.5 percent from a year ago and new home sales are 18.1 percent higher year over year despite a sizable decline in June.
- Jobless claims hit a low not seen since 1973, though some of the decline could be attributed to a seasonal adjustment issue.
- The factory sector still looks relatively weak, with the Kansas City Fed’s manufacturing index remaining in negative territory, while revisions to the industrial production numbers point to more slack and higher risks.
Click here to read the full Wells Fargo Weekly Economic & Financial Commentary for July 24, 2015.
Tags: economy