A few moments ago, my email in-box chimed with the arrival of this story from the Washington Post, indicating that home sales are doing even better than anticipated, nudged along by the final weeks of government incentives and warmer weather in most parts of the country.
Orders for durable goods are up, according to this story from the New York Times.
This blend of positive signs has helped boost the stock market today, according to this story from Forbes. Furthermore, citing data from J.D. Power, this Yahoo finance story suggests that automotives sales remain strong as we move through April.
Implications: Home sales are important to more than just the realtor and mortgage broker; a good month in housing can lead to sales for home furnishings, home improvements and much more. Factory orders suggest more manufacturing jobs, as well as confidence among both consumers and companies.
I have a lot of respect for surveys and research. But all of this positive news—based on actual activity—is nice “physical evidence” to counter the poor consumer confidence index that ended last week, as explained in this story from Reuters.
Mike Anderson
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