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Daily Economic Update for December 21, 2010
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Daily Economic Update for December 21, 2010

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  • 1. Daily Economic Update
    • Oil prices have been creeping upwards, now at nearly $90 per barrel.
    • Prior to the recession oil hit highs of $140 per barrel in 2008, before falling to around $30 a barrel amid financial turmoil.
    • Anecdotal evidence has shown DC rents rising at very high rates. This has been confirmed by a report from the Washington Post today , which showed rents in the DC area rising over 22% in 2009.
    • DC has some differences from the rest of the country, with a more stable employment situation due to government and government related jobs. However, part of the reason for higher rents was people being apprehensive about buying, as well as an increase in single-family homes on the rental market (which are often bigger and higher priced rentals). Some of these factors may become apparent in other markets in the near future.
    • The 2010 Census is released later today. Check out this interactive map for some interesting statistics: http ://2010.census.gov/2010census/data/
    Produced by NAR Research December 21, 2010