October Existing Home Sales Stay Strong

Existing home sales continued to trend upward in October, marking five consecutive months of month-over-month gains, the National Association of Realtors reported yesterday.

Initial Unemployment Claims Suffer Setback

Initial claims for unemployment insurance rose for the week ending Nov. 14, hamstrung by a dramatic jump in coronavirus cases and no sign of a new economic stimulus program before next year.

Housing Starts Continue to Ramp Up

The October housing starts report from HUD and the Census Bureau shows home builders continue to respond to consumers’ seemingly insatiable demand for new housing.

Initial Claims Drop, Remain Elevated

This week’s initial unemployment claims report from the Labor Department sounds an increasingly familiar theme: a slight drop from the previous week, tempered by the reality that claims remain highly elevated from pre-pandemic levels.

Employers Add 638,000 Jobs; Unemployment Remains Elevated

The economy continued its high-low pattern in Friday’s employment report from the Bureau of Labor Statistics. While total nonfarm payroll employment rose by a strong 638,000 in October, and the unemployment rate fell to 6.9 percent, both numbers reflect the devastating economic effects of the coronavirus pandemic.

COVID Upends CBD Real Estate

The COVID pandemic is wreaking havoc on commercial and residential real estate, especially in central business districts, said Wells Fargo Securities, Charlotte, N.C.

Economy Shows Hint of Recovery

What goes down must come up: after the coronavirus resulted in a staggering record drop in the second quarter, the U.S. economy bounced back somewhat in the third quarter, according to the first (advance) estimate of gross domestic product.

Initial Claims Fall to Lowest Level Since March

Initial claims for unemployment insurance fell to their lowest level since March, the Labor Department reported yesterday, but remain elevated from pre-pandemic levels.

COVID-Weary Consumers Feeling Less Confident

The Conference Board, New York, said its Consumer Confidence Index declined slightly in October, following a sharp September increase.