Sales to their highest lel since before the financial crisis. The National Association of realtors says sales rose 3. 2 in june helped by steady job growth and an improving economy. That report helped send shares of Home Builders higher even as the Broader Market fell today. And while it may seem like the housing recovery is firing on all cylinders, diana tells us there is something not quite right. Reporter the number for the Spring Market are in and strong. Home sale rose more than 3 for may and are now up nearly 10 for the year. Thats the highest monthly pace in over three years but the sales came at a high price. The median existing home price hit 236,400. The highest ever. Thats due to tight supply barely up at all from a year ago. At some point, there will be a choking point with prices rising and we are facing a rising interest rate. That hurts availability. So we may see buyers being chopped off. Not because of the lack of desire to buy a home but the price increase is preventi
Got slammed today with the dow plunging 92 points and the s p sinking 7. 28 and lets go through the biggest episodes of the day to explain this twosided theory and the side that we weighed on the market and the side that we ought to consider. First, theres oil. Right now were at the bottom several times before. Exxon, chevron and royal dutch were negative about the oil markets when they reported last week. Of course i find this somewhat ironic considering that they were positive all of the way down. In fact id say these big integrated oils were depending on a vshaped recovery and a ushaped recovery and now no recovery at all. Normally i would say lets go the other way and be contrarian because if they were way apart, why should i trust them now . Given that they spoke last week theyre taking it pretty seriously and not only that but iran came out and said the moment the sanks are lifted theyll immediately increase output by 500,000 barrels and add another million per day in a month and
Announcer from nbc news World Headquarters in new york, this is nbc nightly news with lester holt. Good evening. We begin with a remarkable number. Right now around 95 wildfires are burning in the western u. S. And tonight the u. S. Military is answering an urgent call for help. At least 100 troops have been called up in Washington State. The first deployment of active duty soldiers to battle fires in nine years. The fires are burning across at least six states. The stakes are high, and so is the cost. 100 million a week. At that rate Officials Say the money will run out next month. Our team is deployed across the region. Lets start in chelan, washington with National Correspondent miguel almaguer. Miguel . Reporter hey, lester, good evening. Heavy smoke hangs in the air here. Behind me there is destruction. In front of me two miles ahead a wildfire is moving in multiple directions. At least 56,000 acres here are been destroyed. More than 32 homes are gone. This as that fire is on the
Lived here 33 years. So its hard to see this. Reporter tonight lives in ruins as this fire rages on. Miguel almaguer, nbc news, washington state. This is joe fryer in simi valley, california. Wildfires are tearing through miles of parched wilderness grassland and creeping dangerously close to neighborhoods. You can see the flames just about maybe 20 feet away from that one fence. Reporter a small brush fire in simi valley spread quickly. Hundreds of homes in its path. Started over there. And it just came like a whirlwind through. The only thing we had on our side was it was not windy that day. Reporter with a quick aerial attack and strike teams on the ground staying ahead of the flames, all the houses were spared. Firefighters fear conditions are ripe for a perfect storm here. The ground is so dry fires are moving unusually fast and the warm santa ana winds are still to come. If we get to the point where we have a santa anadriven fire, were going to be looking at some real scary condi
Announcer from nbc news World Headquarters in new york, this is nbc nightly news with lester holt. Good evening. We begin with a remarkable number. Right now 95 wildfires are burning in the western u. S. And tonight the u. S. Military is answering an urgent call for help. At least 100 troops have been called up in Washington State. The first deployment of active duty soldiers to battle fires in nine years. The fires are burning across at least six states. The stakes are high, and so is the cost. 100 million a week. At that rate Officials Say the money will run out next month. Our team is deployed across the region. Lets start in chelan, washington with National Correspondent miguel almaguer. Miguel . Reporter hey, lester, good evening. Heavy smoke hangs in the air here. Behind me there is destruction. In front of me two miles ahead a wildfire is moving in multiple directions. At least 56,000 acres here have been destroyed. More than 32 homes are gone. This as that fire is on the move.