Wells Fargo Keeping Current September 3, 2021

September 8, 2021By Robin EvenocheckNews No Comments

Home prices accelerated through the second quarter, hitting an annualized appreciation rate of 21.2%. Before 2020, the strongest quarterly advance was the 11.0% annual rate recorded in the second quarter of 2005. Over the past year, prices have risen 17.4%, the strongest pace of appreciation over four quarters in the 30-year history of the data.1 … Read More

Wells Fargo Keeping Current August 6, 2021

August 12, 2021By Robin EvenocheckNews No Comments

New home sales slipped 6.6% in June to stand at a seasonally adjusted annual pace of 676,000 units. That’s the third consecutive monthly decline, and the pace fell below 2019’s annual rate for the first time since April 2020.1 The number of completed new homes on the market stood at 36,000 units in June, a … Read More

Wells Fargo Keeping Current July 23, 2021

July 27, 2021By Robin EvenocheckNews No Comments

Existing home sales rose 1.4% in June to stand at a seasonally adjusted annual pace of 5.86 million units. The gain breaks a string of four monthly declines. The sales rate over the past five months (February through June) is 10.1% slower than the sales rate over the previous five months (September through January). Of … Read More

Wells Fargo Keeping Current 6.11.2021

June 22, 2021By Robin EvenocheckNews No Comments

Consumer prices rose 5.0% in the year ending in May, the highest year-over-year reading in almost 13 years. Year to date, consumer prices are rising at a 6.5% annual rate. From 2015-19, the CPI rose at a 1.8% average annual rate.1 Excluding the volatile food and energy sectors, the “core CPI” rose 3.8% in the … Read More

Wells Fargo Weekly Economic & Financial Commentary Weekly 4.23.2021

April 29, 2021By Robin EvenocheckNews No Comments

Raising the Bar Even Further The confluence of stronger-than-expected reports has prompted us to raise our estimates for economic growth this year. The mini boom we were expecting is arriving early, and consumer spending and business investment both look to be stronger than our previous above-consensus forecast.   Summary U.S. Review: Raising the Bar Even Further … Read More

Wells Fargo Keeping Current October 23, 2020

October 28, 2020By Robin EvenocheckNews No Comments

Existing home sales rose 9.4% in September, and the seasonally adjusted annual rate of 6.54 million units was almost 21% stronger than it was in September 2019. Year-to-date, sales in 2020 lag sales through the first nine months of 2019 by 0.2%.1 The inventory of existing homes on the market stood at 1.47 million units … Read More

Wells Fargo Keeping Current September 25, 2020

October 6, 2020By Robin EvenocheckNews No Comments

August’s new home sales were the strongest since September 2006. The 1.01 million-unit annualized sales rate, a 4.8% increase over July, put the year-to-date sales 14.9% ahead of the first eight months of 2019. Last year, new home sales totaled 683,000 units. The median price of new homes sold in August was $312,800, a 4.3% … Read More

Wells Fargo Keeping Current September 11, 2020

September 14, 2020By Robin EvenocheckNews No Comments

With the addition of 1.371 million jobs in August, employers have restored just under half of April’s 20.79 million job loss. The number of payroll jobs in August stood 7.6% below the February high water mark of 152.46 million jobs.1 The unemployment rate fell for the fourth consecutive month in August, dropping to 8.4% in … Read More