Last week’s economic news included readings on home price trends, pending home sales and weekly readings on average mortgage rates and first-time jobless claims. The University of Michigan also released consumer sentiment report.

Mid America Mortgage, Inc.
Last week’s economic news included readings on home price trends, pending home sales and weekly readings on average mortgage rates and first-time jobless claims. The University of Michigan also released consumer sentiment report.
The average size of an American home has been increasing since the 1970s. The American Enterprise Institute (AEI) reports that, in 1973, the median size for a new home in the United States was 1,660 square feet.
Many baby boomers are reaching retirement age. If they set up their financial planning well, while younger, they should have accumulated enough wealth to have some discretionary money available for making investments.
Home price growth continued to slow in June according to Case-Shiller’s 20-City Home Price Index. 17 cities reported higher home prices in June, but three cities reported lower home prices month-to-month. Seattle, Washington was the only city to report lower home prices year-over-year in June.
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