Heading into a long holiday weekend, company-specific news may be light. But Washington is gearing up to release a slew of important data. Here’s a look at three economic items to watch: Home Prices look for a Floor Here’s a sobering stat: As of the first quarter of 2010, average home prices across the United States are at levels similar to what they were in the spring of 2003. They rose sharply in the middle of the decade, but have given back all of those gains during the past three years. On Tuesday,… Read More
Heading into a long holiday weekend, company-specific news may be light. But Washington is gearing up to release a slew of important data. Here’s a look at three economic items to watch: Home Prices look for a Floor Here’s a sobering stat: As of the first quarter of 2010, average home prices across the United States are at levels similar to what they were in the spring of 2003. They rose sharply in the middle of the decade, but have given back all of those gains during the past three years. On Tuesday, we’ll get the latest reading on housing prices from the S&P Case Shiller Home Price Index. So many potential home buyers are sitting on the sidelines waiting to see when housing prices will turn up. They know that prices are cheap, they just don’t want to see a newly acquired asset become even cheaper. But an upturn in housing prices could be a big motivator to get in the game, and trigger a long-awaited rebound in demand. Analysts at Case Shiller noted in their last report that “housing prices rebounded from crisis lows, but recently have… Read More