Employment And Existing Home Sales-More Of The Same

Existing home sales and the weekly labor report are both out today. Neither indicate much positive change.

The four week moving average of new unemployment claims fell 12,000 to 646,750. This number needs to get to 600,000 or less to be viewed as a positive.

Existing home sales for March fell 3.0% to 4.57 million units. That represents a 7.1% decline from March 2008 sales results. Inventory came in at 3.74 million units which represents 9.8 months of supply. Nothing earth shaking in these numbers.

For a complete discussion of existing home sales go to Calculated Risk (here and here). Housing Wire does have a slightly more upbeat take on the numbers so you may want to check that out as well.

more: here (NYT unemployment) and here (NAR home sales)

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