Market News 11-15-18
Consumer prices posted the largest increase in 9 months in October. The Labor Dept said its index rose 0.3% last month after increasing 0.1% in September. Retail sales rebounded as purchases of cars and building materials surged. Strong sales ahead of the holiday shopping season could help the economy. Concerns over turmoil in the Brexit deal overseas are pushing investors to the safe haven of bonds. Improving bond prices could help mortgage rates remain low..
Home Depot is concerned that higher tariffs could cause price increases on some products. However, sales remain strong for the home improvement retailer. Modular and other non-site built single-family homes made up 3.3% of homes in 2017. That number is expected to rise in 2018 and the years ahead. FSBO transactions fell to a record low of 7% of all home sales in 2018 according to NAR. That’s dramatically lower than in 1981, when FSBOs were at 15%.
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