Joan Severson, an experienced and prestigious Dallas Ebby Halliday Realtor, has heard the cries for help from North Texas homebuyer and sellers who are feeling the crunch of the economy crisis. In response to those requests, Severson has compiled the following update of the American economy. While not as stellar as hoped, there is some light at the end of the tunnel.
According to Severson, there are recent indicators that show mortgage bonds are trading lower even though there is some good news concerning inflation. Retail sales are off and stocks are coming under selling pressure. Prices have increased significantly and will probably pause or pullback a bit before rising.
Lower energy costs resulted in wholesale prices falling in August for the first time this year. Producer prices fell 0.9% in August which was more than – 0.5% and was the biggest monthly drop in almost two years. With the exception of energy and food costs, producer prices increased .2% as expected, so with the recent drop in oil prices around $100 a barrel, possibly lowering inflation expectations.
Retail Sales in August were much less than expected at a minus 3% instead of the expected plus 3%. Removing automobile sales furthered changed the stats to minus 7%, considerably less than the expected minus 2%.
The bright spot in the news is that the consumers 1 and 5 year inflation expectations has dropped, meaning there is a better feeling about the economy and future inflation expectations. With a more positive outlook, Americans can feel a little more comfortable spending and buying/selling property.
About Joan Severson
Joan Severson, a high-profile, Dallas-based Ebby Halliday agent (formerly Re/Max DFW), already a graduate of the Realtor Institute, has successfully completed the e-PRO certification course offered by the National Association of REALTORS®, making her one of a elite few real estate professionals to earn the esteemed certification. At present, only 1% of the nation’s REALTORS are e-PRO certified.
To contact Joan Severson about your home buying or selling needs or for a comprehensive look at the real estate market in North Dallas including Frisco, Plano, McKinney, Allen and more, visit http://www.joansellsdallas.com or call 1-877-910-6030 for a consultation.