Business News

Shortage of Homes For Sale

I will have to learn some new people on our currency, but till 2020.  The Treasury Department announced it will keep Alexander Hamilton on the $10 bill and replace President Andrew Jackson with Harriet Tubman on the $20. There will also be some changes to the $5 bill that will now depict civil rights era leaders. (Politico)

The National Association of Realtors says existing home sales climbed 5.1% to an annual rate of 5.33 million units in March. Sales remain constrained by a shortage of homes available for sale. At March's sales pace, it would take 4.5 months to clear the stock of houses on the market. A six-month supply is viewed as a healthy. The median house price increased 5.7% percent from a year ago.

Mattel reported a loss of $73 million in the first quarter. The toy maker had sales of $869.4 billion. The strong dollar, which reduces the value of sales generated outside the U.S., weighed on Mattel’s results. Mattel is trying to overcome the loss of licenses for Walt Disney Princess and Frozen products to rival Hasbro in 2016. Mattel shares are up 22% in 2016. (AP)

MSCI International Index is down 0.20%.

Oil is up 5 cents at $44.25 a barrel.

Gold is up $4 at $1265 a Troy ounce.

With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.

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