Recently released data states that new home sales in many locations increased during the holidays, a surprise for many as the holidays are usually considered  a slow period for home sales. Experts are hopeful that the positive numbers being reported in numerous locations may be a sign of what’s to come in 2014. The Sacramento area experienced large gains during the holidays having a burst of activity. Experts say the rise in new home sales in many areas could be due to home buyers’ uncertainty of what interest rates and prices may hold in 2014. More here

Home prices in the U.S. increased in November, jumping 11.8% from November 2012. Home sales have gradually increased nationally over the last 21 months, showing positive signs that the housing market is making a comeback. Home prices, including distressed sales, inched up 0.1% from October 2013 to November 2013. The chief economist for CoreLogic, Mark Fleming said, “the housing market paused as expected in November for the holiday season with very low month-over-month appreciation. Year-over-year home prices are up an impressive 11.8%.” More here

New economic data just released shows that 2014 has started off on a very positive note. Housing reports shot up, and manufacturing companies released their largest gain in orders in nearly three years. Reports are also showing that consumer confidence has risen considerably, increasing business spending. Additionally, job growth has picked up, and experts expect all of these positive trends to carry on throughout the new year. More here

According to Freddie Mac’s mortgage survey, the average fixed-rate mortgage is continuing to see a slight increase. Pending home sales jumped 0.2% last month, and consumer confidence also experienced additional growth as 2013 came to a close. 30-year fixed-rate mortgages averaged approximately 4.53%, up from 4.48% last week, and the average 15-year-fixed rate mortgage increased from 3.52% to 3.55%. More here

Four cities and 13 states will experience an increase in minimum wage starting on January 1, 2014. Most minimum wage increases amount to approximately 15 cents per hour, while other locations such as New York, Connecticut, Rhode Island, and New Jersey will see a larger increase. Experts say the jump in minimum wage in certain locations is due to a rise in annual cost of living. More here