Greenway's Markets in a Minute I Lots of Indicators Show Improvement
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Consumer confidence rebounded in September by the most in 17 years, reaching a 3-month high, as Americans grew more upbeat about the outlook for the economy and job market. |
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The GDP fell at a rate of 31.4% in the 2nd quarter, due to the pandemic. However, the economy is poised to swing to a record increase in the quarter that just ended. |
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Jobless claims dropped more than expected to 837,000, as the slow labor market recovery grinds on. Continuing claims fell to 11.8 million in the week ended Sept. 19. |
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According to CoreLogic, home prices rose 4.8% annually in July. Rock-bottom mortgage rates and strong buyer demand are fueling price increases. |
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Pending home sales were up in August, 8.8% higher than July and a staggering 24.2% higher than August 2019. Sales matched a record pace set back in Jan. 2001. |
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The COVID-19 pandemic has hit the office sector hard, as employees work from home and vacancies skyrocket. However, Cushman & Wakefield are forecasting a full recovery by 2025. |
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