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Industry News
Mortgage Applications Rise in Latest Week
Reuters
Alabama residential sales improve 2 percent in July
By Alabama Center for Real Estate (ACRE)
Appraisal Institute Unveils New Educational Offering For Reviewers
By R. Shawn Brantley, Brantley & Associates
Jobless Claims in U.S. Have Dropped About as Much as They Can
By Victoria Stilwell, Bloomberg News The four-week claims average as a share of the workforce stood at 1.6 percent at the end of last month. The record low was reached in May 1969 at 1.2 percent. In more recent times, the low was in April 2000 at 1.4%.
How a Zillow-Trulia Merger Could Finally Change the Business of Real Estate
By Brad Stone, Bloomberg Businessweek, Technology
Industry News
U.S. construction spending highest in nearly five years
Construction spending increased 1 percent to an annual rate of $934.4 billion, the highest level since March 2009, the Commerce Department said on Thursday. It was the eighth straight month that construction spending increased.
Economists polled by Reuters had expected a gain of 0.6 percent in November. Construction spending in October was revised to show a 0.9 percent rise instead of the previously reported 0.8 percent increase.
The report added to data ranging from employment to consumer spending that have suggested resilience in the economy even as growth is expected to step down form the third quarter's brisk 4.1 percent annual rate.
Construction spending in November was lifted by a jump in private construction projects to their highest level since December 2008. Private construction spending rose 2.2 percent after being flat in October.
The increase reflected strong gains in spending on both residential and nonresidential projects. Private residential spending hit its highest level since June 2008 and outlays on nonresidential structures, which include factories and gas pipelines, touched an 11-month high.
Public construction spending fell 1.8 percent as both outlays on federal and state and local governmental projects declined. (Reporting By Lucia Mutikani; Editing by Andrea Ricci)
Archived Articles
- Mortgage Applications Rise in Latest Week
- Alabama residential sales improve 2 percent in July
- Appraisal Institute Unveils New Educational Offering For Reviewers
- Jobless Claims in U.S. Have Dropped About as Much as They Can
- How a Zillow-Trulia Merger Could Finally Change the Business of Real Estate
- U.S.. Jobless Claims Lowest Since Early 2006; New Home Sales Tumble
- Economy Bouncing Back After Slow First Quarter
- U.S. construction spending highest in nearly five years
- UPDATE: Florida may soon pass New York in population
- US Budget Deficit Down to $680B, Lowest in 5 Years
- Economic Indicators - August 2013
- Key Messages on U.S. Manufacturing
- July home prices rise, but pace is slowing
- US builders boost single-family home construction in August
- Four Operating C-stores Up for Grabs in Alabama
- Report: Florida economy has lost ground
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