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  • First Quarter GDP Revised Up, But Trend Is Still Down

    The US Bureau of Economic Analysis (BEA) released the second estimate of US real gross domestic product (GDP) growth for the first quarter of 2016 (Exhibit 1). Real GDP grew at a seasonally adjusted annual rate of 0.8 percent, which is higher than the previously released advance estimate of 0.5 percent. Exhibit 1: US Real Gross Domestic Product (GDP), Seasonally… Read More ›

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  • Pending Sales Best in Over Ten Years

    The Pending Home Sales Index soared 5.1% in April to the highest level in over a decade, and has increased year-over-year for 20 consecutive months. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), increased to 116.3 in April from an upwardly revised 110.7 in March, and is… Read More ›

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  • Apartment and Condominium Market Remains Steady in the First Quarter

    The National Association of Home Builder’s Multifamily Production Index (MPI) increased one point to 53 in the first quarter of 2016 (Exhibit 1). This quarter marks the 17th consecutive quarter in which the index has been above its breakeven point of 50, which means that more builders and developers report that current conditions in the apartment and the condominium market… Read More ›

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