For the Week Ending June 29, 2018Barbara,Please enjoy this quick update on what happened this week in the housing and financial markets.Consumer confidence was down slightly in June, suggesting economic growth may temper a bit. Economists said trade dispute concerns were to blame.Some economists even think that escalation of trade tensions could tip the economy into recession. However, the Fed doesn't seem too concerned yet.The economy did slow more than previously estimated in the 1st qtr. But growth appears to have accelerated again on the back of a strong labor market.New home sales climbed 6.7% in May, led by sales in the South. New home sales have risen 8.8% for the first 5 months of 2018.Home values continue to rise, but at a slightly slower pace than we've seen recently. In April, values tracked at 6.4% annually, down from 6.5% in March.Pending home sales slipped, falling for the 5th straight month in May. Tight inventory continues to get the blame.
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