Washington – The U.S. economy grew at a solid 2.9 percent annual rate in the final three months of last year, a sharp upward revision that caps three straight quarters of healthy growth. The Trump administration is hoping the economy will accelerate further this year, aided by sizable tax cuts and increased government spending. The gross domestic product, the country’s total output of goods and services, grew at a faster clip than its previous estimate of 2.5 percent, the Commerce Department reported Wednesday. The gain followed increases of 3.1 percent in the second quarter and 3.2 percent in the third
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The pace of Americans signing contracts to buy homes picked up last month, rebounding from a drop in January. But a shortage of homes on the market continues to weigh on the housing market. The National Association of Realtors said Wednesday that its pending sales index rose 3.1 percent in February to 107.5 after tumbling 5 percent in January. Despite the uptick, the index is still down 4.1 percent from a year earlier. Lawrence Yun, chief at economist at the association, blamed the uneven performance on a shortage of houses for sale. “The minuscule number of listings on the market
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Congratulations by broker Doug Van Nortwick to Perry Hester 2017 TOP PRODUCER for ERA
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From Debbi and Perry Hester,                  We are sending you all our hugs for a Happy Valentine’s Day to you and your family!     Thank you very much,   Debbi and Perry
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El Paso County’s unemployment rate remained at 3.7 percent in December, which continued to be below Texas and national unemployment rates, according to data released Friday. El Paso’s unemployment rate dropped to a historic low 3.3 percent in October, adjusted down from the previously reported 3.4 percent rate, according to the Federal Reserve Bank of Dallas. It was at 3.7 percent in November. Read More at: http://www.elpasotimes.com/story/money/business/2018/01/22/unemployment-rate-jobs-el-paso-texas/1049496001/
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Housing affordability is broadly defined as the ability of a household (or family) earning the median income to qualify for the median-priced home. The fundamental determinants—home price and household income—have diverged since the recovery from the Great Recession, causing national and statewide declines in housing affordability. The Real Estate Center’s Housing Affordability Index employs median family income relative to the median home price. Another measure of affordability, the Texas Affordability Pyramid (the pyramid), estimates the number of households that can afford to purchase a home at specific price intervals based on household income. Read More at: https://assets.recenter.tamu.edu/Documents/Articles/2188.pdf Gaines, James P, and
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El Paso economic growth to slow in 2018, UTEP forecasts El Paso’s economy is expected to chug along in 2018 at a slightly slower pace than in 2017, and slower than growth projections for the United States economy, according to University of Texas at El Paso economists. El Paso’s job growth is expected to continue at a healthy, but slightly slower rate in 2018, and unemployment is projected to remain low as it did in 2017, according to the recently released “Borderplex Economic Outlook to 2019.” Read More: www.elpasotimes.com/story/news/2018/01/08/el-paso-economy-employment-forecast-utep-economists/998433001/ Kolenc, Vic. “El Paso Economic Growth Set to Slow.” El Paso Times,
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