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WEEKLY QUOTE
Let him who would enjoy a good future waste none of his present. - Roger Babson
Last month brought a 2.3% gain in new home sales and an 0.6% increase in existing home sales. Distressed properties (short sales and foreclosures) represented only 18% of residential resales in April, the National Association of Realtors noted; compare that with 28% of sales in April 2012. NAR also announced that the median existing home price was $192,800 in April, 11.0% higher than a year ago. The pace of new home buying has improved 29.0% in the past 12 months, according to the Census Bureau.1,2
WEEKLY TIP
Whats more important for a young couple: an emergency fund, or saving for a down payment on a home? The emergency fund gets the nod if your finances allow you to save toward only one of these two financial objectives.
The May 1 Federal Open Market Committee minutes were released last Wednesday, shortly after Federal Reserve chairman Ben Bernanke mentioned the need to sustain the central banks current stimulus effort in Congress. The minutes, however, noted that a number of Fed officials were open to scaling down QE3 as soon as June if economic indicators sufficiently improved. Concern and confusion about these mixed messages put more volatility into the markets and factored into a 3-day losing streak for the S&P 500.3
WEEKLY RIDDLE
Rigid is my spine, my innards are mostly pale, yet I am always ready to tell a tale. What am I?
Last weeks riddle: What should the next number be in this series: 103, 107, 109, 113, 127 ... Last weeks answer: 131, as the whole series is made up of prime numbers.
10 YR TIPS
-0.26%
-0.38%
1.36%
1.72%
Sources: usatoday.com, thestreet.com, bigcharts.com, treasury.gov - 5/24/134,7,8,9,10 Indices are unmanaged, do not incur fees or expenses, and cannot be invested into directly. These returns do not include dividends.
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Citations.
1 - csmonitor.com/Business/new-economy/2013/0523/New-home-sales-rise-but-market-still-a-long-way-from-normal [5/23/13] 2 - realtor.org/news-releases/2013/05/april-existing-home-sales-up-but-constrained [5/22/13] 3 - reuters.com/article/2013/05/22/markets-usa-stocks-idUSL2N0E321R20130522 [5/22/13] 4 - thestreet.com/story/11933260/1/sp-poised-for-three-day-losing-streak-amid-qe-wind-down-chatter.html [5/24/13] 5 - marketwatch.com/story/russell-2000-index-breaks-above-1000-2013-05-20 [5/20/13] 6 - blogs.barrons.com/stockstowatchtoday/2013/05/24/dow-ekes-out-friday-gain-down-for-the-week/ [5/24/13] 7 - usatoday.idmanagedsolutions.com/stocks/overview.idms?index=SP500 [5/24/13] 8 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=5%2F24%2F12&x=0&y=0 [5/24/13] 8 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=5%2F24%2F12&x=0&y=0 [5/24/13] 8 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=5%2F24%2F12&x=0&y=0 [5/24/13] 8 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=5%2F23%2F08&x=0&y=0 [5/24/13] 8 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=5%2F23%2F08&x=0&y=0 [5/24/13] 8 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=5%2F23%2F08&x=0&y=0 [5/24/13] 8 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=5%2F23%2F03&x=0&y=0 [5/24/13] 8 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=5%2F23%2F03&x=0&y=0 [5/24/13] 8 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=5%2F23%2F03&x=0&y=0 [5/24/13] 9 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield [5/24/13] 10 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll [5/24/13]
Partner
Premier Planning Group 115 West Street, Suite 400 Annapolis, Maryland 21401 http://www.premierplanninggroup.com/#!doug-potash/c8x7 Phone: 443-837-2550 Cell: 443-994-1897 Fax: 410-216-9515
Doug Potash is a Registered Representative offering securities through Cambridge Investment Research, Inc., Member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc., a federally registered investment advisor. Cambridge and Premier Planning Group are not affiliated.