Daily News 5/18/2015

May 18, 2015

Monday – May 18

Home Builder Sentiment across the nation eased a bit in May, though builders still remain optimistic. Consumers have expressed some concerns regarding their financial conditions and would like to be on more stable ground before purchasing a home. The National Association of Home Builders Housing Market Index fell two points in May to 54, below the 57 expected. The index is up nine points since the May 2014 reading of 45. Any number over 50 indicates that more builders view conditions as good rather than poor.

Gas prices at the pumps continue to rise as the spring and summer driving season is now underway. Prices have risen by 22 cents in the past three weeks as the national average price for a regular gallon of gasoline is now up to $2.80 as of Sunday. The increase has been due to a rise in oil prices and stronger demand. The survey from Lundberg said that prices are still 93 cents lower than a year ago. The highest prices were seen in Los Angeles, CA at $3.95, while Baton Rouge, LA had the lowest at $2.32.

A recent report out from Airlines for America reveled that summer airline travel is estimated to reach an all-time high this season due to a strengthening economy. It is estimated that nearly 22 million passengers will fly on U.S. airlines this summer, up nearly 5% from last year. The favored destinations: Canada, Mexico and the United Kingdom. The uptick in demand coupled with lower fuel costs will greatly add to the bottom lines of U.S. airlines companies.