Friday May 30

Friday May 30

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.



Edna Montijo - Owner Headshot
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Phone: 480-999-1156
Dated: May 31st 2014
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AZ Xceptional Realty
2450 S Gilbert Rd #206
Chandler, AZ
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