The report showed the U.S. South region continued to recover from a pair of hurricanes. Purchases in other areas of the country, including a 17.9 percent surge in the Midwest, also climbed.
The number of properties sold in which construction hadn’t yet started reached the highest level since January 2007, signaling residential construction will accelerate in coming months.
A steady job market and low mortgage costs are helping propel demand for real estate and pushing up property prices. At the same time, it’s a hurdle for some prospective buyers, especially younger Americans and those entering the market for the first time. The average selling price in October reached a record high $400,200, probably reflecting construction of higher-end homes.
New-home sales, tabulated when contracts get signed, account for about 10 percent of the market. They’re considered a timelier barometer than purchases of previously owned homes, which are calculated when contracts close and are reported by the National Association of Realtors.
https://www.bloomberg.com/news/arti...les-unexpectedly-climb-to-highest-in-a-decade
The vast majority of global stock markets in 2017 have surged either to fresh records or multiyear highs, one of the broadest rallies in years that investors say is a result of the increasingly synchronized global economic recovery.
Half of the 35 major indexes representing the world’s biggest stock markets by value have hit all-time highs this year, the most since 2007, according to an analysis by The Wall Street Journal. In the U.S., the Dow Jones Industrial Average has logged 60 record closing highs this year, the most since 1995, with the latest push higher following the House Republicans’ proposed tax code overhaul.
The Nasdaq Composite has gained 28% this year and set 69 new highs, the most ever in a calendar year. The S&P 500 cleared 2600 for the first time Friday, marking its second-fastest round-number milestone ever.
https://www.wsj.com/articles/stocks...-most-widely-shared-rally-in-years-1511778604
The number of properties sold in which construction hadn’t yet started reached the highest level since January 2007, signaling residential construction will accelerate in coming months.
A steady job market and low mortgage costs are helping propel demand for real estate and pushing up property prices. At the same time, it’s a hurdle for some prospective buyers, especially younger Americans and those entering the market for the first time. The average selling price in October reached a record high $400,200, probably reflecting construction of higher-end homes.
New-home sales, tabulated when contracts get signed, account for about 10 percent of the market. They’re considered a timelier barometer than purchases of previously owned homes, which are calculated when contracts close and are reported by the National Association of Realtors.
https://www.bloomberg.com/news/arti...les-unexpectedly-climb-to-highest-in-a-decade
The vast majority of global stock markets in 2017 have surged either to fresh records or multiyear highs, one of the broadest rallies in years that investors say is a result of the increasingly synchronized global economic recovery.
Half of the 35 major indexes representing the world’s biggest stock markets by value have hit all-time highs this year, the most since 2007, according to an analysis by The Wall Street Journal. In the U.S., the Dow Jones Industrial Average has logged 60 record closing highs this year, the most since 1995, with the latest push higher following the House Republicans’ proposed tax code overhaul.
The Nasdaq Composite has gained 28% this year and set 69 new highs, the most ever in a calendar year. The S&P 500 cleared 2600 for the first time Friday, marking its second-fastest round-number milestone ever.
https://www.wsj.com/articles/stocks...-most-widely-shared-rally-in-years-1511778604
