Existing-Home Sales

NEW YORK--(BUSINESS WIRE)-- Though the U.S. economy continues to face risks, the sense of "crisis" that was prevalent earlier in the year seems to have faded, and stock prices should "grind higher," albeit with continued volatility, as 2008's second half proceeds, according to Robert C. Doll, Vice Chairman and Global Chief Investment Officer of Equities at BlackRock, Inc. (NYSE: BLK). Doll and BlackRock's Global Equity portfolio management group believe that although a number of potential risks remain, the longer term outlook for stocks, while rocky, is generally positive. "Stocks hit an important low in mid-March, and although they moved higher throughout much of April and May, they have suffered a recent setback in the face of higher oil prices, worries about inflation, ongoing credit issues and a still weak economy," Doll said in his annual mid-year update and outlook for the economy and financial markets. "Despite all of the negative sentiment currently dominating markets ...

ORLANDO, Fla., June 26 /PRNewswire/ -- Florida Realtors(R) statewide continued to report positive signs in their local housing markets, with an uptick in existing home and condominium sales in May 2008 from April, according to the latest housing statistics released by the Florida Association of Realtors(R) (FAR). A total of 12,175 existing single-family homes sold in May, up 8.7 percent over the previous month when 11,200 homes changed hands statewide. Existing condo sales statewide rose 3 percent, with a total of 4,018 units sold in May compared with 3,900 condos in April. The median price for both existing single-family homes and existing condos increased slightly as well during the one-month period. The existing-home median price in May was $203,300, up 2.2 percent from April's median price of $198,900. The median price of an existing condo last month was $181,800, up 1.5 percent from April's figure of $179,200. In the latest National ...

WASHINGTON, June 26 /PRNewswire-USNewswire/ -- Sales of existing-home sales increased in May with buyers responding to lower home prices, according to the National Association of Realtors(R). Existing-home sales -- including single-family, townhomes, condominiums and co-ops -- increased 2.0 percent to a seasonally adjusted annual rate(1) of 4.99 million units in May from a level of 4.89 million in April, but are 15.9 percent below the 5.93 million-unit pace in May 2007. NAR President Richard F. Gaylord, a broker with RE/MAX Real Estate Specialists in Long Beach, Calif., said buyers are seeing value in the current housing market. "Home buyers are starting to get off the fence and into the market, drawn by drops in home prices in many areas and armed with greater access to affordable mortgages," he said. "Today's buyer plans to stay in a home for 10 years, which is a good strategy for ...

Existing Home Sales ...

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Before Market Opens:
Economics:
8:30 AM ET
Chain Deflator for Q1 - Street expects 2.6%, compared to the same in Q4
GDP-Final for Q1 - Street expects 1.0%, compared to 0.9% in Q4
...