Daily News 12/22/14
December 22, 2014
Monday – December 22
Sales of previously owned homes unexpectedly fell in November from October to a six month low. The National Association of REALTORS® (NAR) reported today that Existing Home Sales in November fell by 6.1% from October to an annual rate of 4.93 million units, which was well below the 5.20 million expected. The housing market continues to remain in a somewhat choppy trend, despite an improving economy and job market. In addition, the NAR said, “rising home values are causing more investors to retreat from the market.”
Super Saturday, the Saturday before Christmas, came and went this past weekend and is shaping up to be the biggest shopping day of the year. Sales are expected to hit $10 billion for December 20, compared to $9 billion for Black Friday. Many stores were reported to have been running deep discounts along with crowded stores across the nation. The National Retail Federation said that sales in the 2014 holiday shopping season are expected to be solid and with Christmas falling on a Thursday, many will be off on Friday, which will be another key day for retailers.
Americans traveling at the end of the year for the holidays are set to hit record highs as AAA predicts 98.6 million people will journey 50 miles or more from home. Airports and passenger trains will be very busy along crowded highways so leave extra time to get to and from your destination. The 98.6 million will be up 4% from the 94.8 million people who traveled last year. “Tis the season for holiday travel, and this year more Americans will join with friends and family to celebrate the holidays and ring in the New Year than ever before,” said Marshall L. Doney, AAA President and Chief Operating Officer.
