The week ahead

Homes continue to sell at a brisk pace in the Lowcountry, but the amount of inventory is off sharply from a year ago. June sales figures are due out Monday.


The Charleston Trident Association of Realtors releases home sales figures for June. So far, it’s been another strong year for the industry. In May, residential sales jumped more than 15 percent to 1,695 transactions compared to the same month last year, the group reported. The median price was $245,000, up about $10,000, or 4.3 percent. Through May, more than 6,700 homes have changed hands in the region, up about 8 percent. The association said it remained concerned about a dwindling number of homes on the market.


U.S. Commerce Department releases wholesale trade inventories for May.

U.S. Labor Department releases job openings and labor turnover survey for May.


U.S. Treasury releases federal budget for June.

The Federal Reserve releases Beige Book of regional economic conditions around the U.S.


Freddie Mac, the mortgage company, releases weekly mortgage rates. Last week, long-term home loan rates fell to their lowest level since May 2013, driven down by financial tumult in Europe. The average 30-year fixed-rate mortgage fell to 3.41 percent from 3.48 percent a week earlier, while the 15-year rate dropped to 2.74 percent, down from 2.78 percent. The 30-year fixed-rate loan came close to its all-time low of 3.31 percent set in November 2012.

U.S. Labor Department releases weekly jobless claims. Last week, fewer Americans sought unemployment benefits, a sign that workers still have job security despite recent tremors in the global economy. Weekly applications fell 16,000 to a seasonally adjusted 254,000. The 4-week average, which is less volatile, dipped slightly to 264,750. Unemployment claims are a proxy for layoffs. The 70-week streak of claims staying below 300,000 is the longest since 1973.

U.S. Labor Department releases the Producer Price Index for June.


U.S. Commerce Department releases retail sales data for June

U.S. Labor Department releases Consumer Price Index for June.

The Federal Reserve releases industrial production for June.

U.S. Commerce Department releases business inventories for May.

Staff and wire reports