1. Home sales in the city of Seattle increased 41% in November from a year ago. For the entire metro area, sales increased 19%, while the median sales price increased 20%.
2. The number of housing markets considered “improving” according to the National Association of Home Builders/First American Improving Markets Index (IMI) surged by 76 to a total of 201 metros in December.
3. The St. Louis Fed Stress Index remains below zero this week at pre-recession 2007 levels, suggesting that the amount of stress in the financial markets is consistent with an economy in a recovery, not an economy in recession, or on the brink of recession.
4. The Chicago Fed’s National Financial Conditions Index is also indicating no sign of recessionary conditions, and continues on a downward trend this week that started about a year ago, indicating improving, not deteriorating, financial conditions.
5. Data Quick is reporting today that national home sales for the most recent 30-day period are up by 16.3% from the same period last year, and the median home sales price is up by 8.6%.
6. Nashville home sales surged by 38% in November, while the median price for single-family homes increased by 7.4%.
7. The Michigan Legislature today took the first step toward making the Great Lake State the 24th right-to-work state in the nation, announcing what Gov. Rick Snyder termed the “Workplace Fairness and Equity Act.”