Sales of previously occupied homes fell in December for the first time in four months as many would-be buyers were frustrated by a lack of available houses, which fell to the lowest level in more than two decades. Existing home sales dropped 4.6% last month from November, to a seasonally adjusted annual rate of nearly 6.2 million. The National Association of Realtors says demand for homes remains healthy, with median prices jumping nearly 16% from a year ago.
The number of Americans applying for unemployment benefits rose to the highest level in three months as the fast-spreading omicron variant disrupted the job market. Jobless claims rose for the third straight week — by 55,000 to 286,000, highest since mid-October. The Labor Department says the four-week average of claims, which smooths out weekly volatility, rose by 20,000 to 231,000, highest since late November.
Business Manager Scott Berge has submitted a letter of resignation to the Grand Forks School District. Berge has been with the school system for three years. In his Weekly Newsletter Superintendent Terry Brenner thanked Berge for his service as his transitions back to Altru Health. His last day with the district is February 11th. The resignation is part of the consent agenda before the Grand Forks School Board Monday night.
Retail sales took an unexpected dip in December in what could be a signal that persistently rising inflation is prompting a pullback in consumer spending. Consumers paid more for everything from groceries to cars in 2021 as companies passed along the costs of pricier raw materials and supply chain delays.
A new monthly survey of bankers in parts of 10 Plains and Western states shows the region’s rural economy remains strong. However, bankers say they have growing concerns about the rising costs associated with running farms. The overall Rural Mainstreet economic index released Thursday fell in January to 61.1 from December’s 66.7. Any score above 50 suggests growth. Bankers say high inflation is affecting the prices of farm supplies, from fuel to fertilizer. The survey covers North Dakota…South Dakota…and Minnesota.
Grand Forks continues to benefit from the collection of taxes on internet…mail order…and telephone sales. During the final quarter of 2021 the North Dakota Tax Department reports $465,200 dollars was returned to the city via remote sales. That was the second highest tally behind Fargo at $1.03 million dollars.
The North Dakota PSC has scheduled two public input sessions for a proposed Xcel gas rate increase on February 2nd. The virtual sessions will be an opportunity for Xcel natural gas customers to provide comments regarding natural gas rates. The proposed increase would result in an annual increase in its North Dakota gas service revenue of $7.1 million or 10.5 percent.
Governor Tim Walz has appointed a Thief River Falls (MN) man to the Board of Water and Soil Resources. The term of LeRoy Ose expires in January 2026. The agency is responsible for accomplishing various land and water protection, habitat restoration, and clean water programs and projects in collaboration with local governments statewide.
Ford is recalling about 200,000 cars in the U.S. to fix a problem that can stop the brake lights from turning off. The recall covers certain 2014 and 2015 Ford Fusion and Lincoln MKZ midsize cars as well as some 2015 Mustangs. Owners will be notified by mail starting March 3.
Tickets for the UND Hockey Hall of Fame game in Las Vegas go on sale to the general public starting Saturday, February 12. An exclusive pre-sale opportunity will be available for North Dakota Champions Club members beginning Monday, February 7. Ticket prices range from $80 to $250 dollars. UND will battle Arizona State on October 29th.
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