|For the Week Ending February 24, 2017|
Please enjoy this quick update on what happened this week in the housing and financial markets.
|Although markets were closed on Monday for Presidents' Day, stocks once again hit new highs this week as traders expect the economy to continue improving.|
|Unemployment filings continue to reflect labor market strength. Although up slightly this week, jobless claims have the lowest 4-week average since 1973.|
|The minutes from last month's FOMC meeting show the Fed could be looking to raise policy rates soon. The decision will depend on data for jobs and inflation.|
|Existing home sales surged to a 10-year high in January. Demand remains strong as buyers shrug off increasing prices and higher mortgage rates.|
|A survey of 30 analysts by Reuters predicts home prices will rise at almost double the current rate of underlying inflation and wages over the next few years.|
|Small investors buying homes to flip or rent remain a strong part of the market. Last year, 37% of homes sold were acquired by buyers who didn't live in them.|
My grandpa started walking five miles a day when he was 60.
Now he's 97, and we have no idea where he is.