Northeast storm spurs snow-related sales
According to a report from NY1.com, shovels and snow blowers were big sellers at home centers in and around New York City.
New York City’s Central Park had 20 inches of snow on Monday morning.
Once again, the New Jersey
Once again, the New Jersey neighbors came to my rescue with their high powered snow blowers. Another neighbor actually swept the snow from the top of my car with a broom! It was a real team effort.
Report: The consumer is back
Holiday sales unleashed three years of pent-up demand during the key 2010 shopping season, according to a report from Customer Growth Partners.
Sales in the 2010 holiday period were up more about 5%, according to CGP’s surveys and government data. That’s the biggest year-over-year growth since 2005, when sales increased 6.1%.
“The American consumer is back, big time," said Craig Johnson, CGP president. "He has single-handedly strapped the economy on his back, climbed out of the ditch, and is off and running—despite 10% unemployment. Since consumers represent 70% of the economy, it is entirely possible that fourth quarter GDP growth could reach 5% — because it’s no coincidence that 1999’s stellar retail 4th quarter generated extraordinary GDP growth of 7.4%."
Some of the retailers that are seeing the strongest growth are “home-related retailers that have been in deep freeze for four years,” Johnson said, such as Home Depot, Lowe’s, and Williams-Sonoma, which are having outstanding rebound seasons, he said.
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New home sales increase 5.5% in November
Sales of new single-family houses in November 2010 were at a seasonally adjusted annual rate of 290,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development — a 5.5% increase over October.
However, the figure is 21.2% below the same month last year.
Commerce Department data also show the median sales price of new houses sold in November 2010 was $213,000; the average sales price was $268,700. The seasonally adjusted estimate of new houses for sale at the end of November was 197,000. This represents a supply of 8.2 months at the current sales rate.
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