Economic news was abundant today to end the week. The Bureau of
Economic Analysis (BEA) reported that April Personal Spending fell for
the first time in a year by -0.1% after gaining 1% in March. The
decline was led by a big drop in the decrease in gas and electricity
consumption from the harsh winter weather. However, while consumers
spent less, they saved more. The savings rate increased to 4% in April
from the March figure of 3.6%.
Consumer Sentiment declined in May as Americans grew gloomy on future
income growth. The University of Michigan's Consumer Sentiment survey
fell to 81.9 from the April reading of 84.1. There was a bright spot
within the survey - 56% of those surveyed felt the economy had improved,
up from 46% in April.
RealtyTrac reported this week that home sales increased 4% in April
compared to April 2013 as short sales and foreclosures continued to
decline. The median sales price of U.S. residential properties, which
includes both distressed and non-distressed properties, was $172,000, a
gain of 4% compared to March and rose 11% from April 2013.
Report by Ricky KhamisRealtor Report2016 Best Year for Housing in a De
"I'd say he's doing great! I am a business partner of the team and I can say that he has been nothing but outstanding in every regard to mortgage lending. He has a true desire to serve his clients and serve them well. "