The Federal Reserve reported, August, that 11 of the 12 Districts were “stable.” The Fed fund lending rate will remain near zero for “an extended period” at least through 1st Qtr ‘10. Equity markets have responded positively. The Dow, NASDAQ and the S&P 500 all finished 3 Qtr on a high, posting gains of about 15%. The Dow closed above 10,000 for the first time since ‘07. The NARealtors reported Sept. was the seventh monthly pending home sales increase, 6.4%. The NAHBuilders reported August new home; sales up .07% the 5th monthly increase and inventories down for the 28th monthly decline to a 7.3 month supply. They also said builder confidence was up in Sept. for the 3rd consecutive month.

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