Gary's Blog

Thursday, August 27, 2009

New Home Sales Surge!

Up 9.6% in July, new home sales are rising in all parts of the U.S. and Hawaii, including Maui. This is the fourth month in a row that new home sales have risen. Sales haven't risen so dramatically since February 2005. Maui real estate buyers should not hesitate, Maui sellers are sure to start realizing the bottom has been realized, and it will only get better from here.

Economists are almost unanimous in their projects that we can stop worrying about the housing market, and start paying closer attention to other issues, such as when credit will start flowing more freely.

The Dow Jones Industrial average just had it's seventh record high for the year in a row yesterday.

Durable goods orders also surged last month, home, car and equipment sales soared by the largest amount in years in July.

Economists are predicting that the economy in the July-to-September quarter is poised to grow strongly.

Today the Labor Department will release it's jobless claims report. That report will likely determine if we see the Dow reach it's eight high for the year in a row!

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