RealtyTrac reported today that foreclosures rose
June 13, 2013
Americans filing for first time unemployment benefits fell in the latest week as the lob markets continues to improve. The Labor Department reported this morning that Weekly Initial Jobless Claims fell by 12K in the latest week to 334K, below the 345K expected and the lowest level since early May. The 4-week moving average, which smoothes out any seasonal abnormalities, fell 7,250 to 345,250.
Consumers opened their wallets in May as Retail Sales rose at the fastest pace, 0.6% versus the 0.3% expected, in three months led by demand for autos, which usually make up about one-fifth of sales each month. Sales fell in electronics, clothes, appliances, home furnishings and bars and restaurants.
Over in housing news, RealtyTrac reported today that foreclosures rose by 2% in May from April, but the good news is that foreclosures have fallen 28% from May of 2012. Foreclosure starts also rose in May by 4%, but are down 33% from a year ago.