Repeat home sale prices may be easing back into their pre-pandemic YoY range – by New Deal democrat As I forewarned last week, this holiday week is very light on data, so don’t be surprised by me taking some time off. We did get November home prices for repeat sales this morning from both Case […]
More economic news an d this time new single family housing. Completing the housing market picture for November, sales decline bigly, and prices remain down YoY – by New Deal democrat Our final important pre-year end release was also the final item of housing data for the month, new home sales. To reiterate, the […]
It appears there will be no layoffs pre-Christmas and Christmas. After Christmas, the delays in implementing EVs at GM will result in layoffs in Michigan. A holly jolly holiday season for initial jobless claims – by New Deal democrat Initial jobless claims rose 2,000 last week to 205,000, while the four-week average declined -1,500 to […]
In my lingo, existing home sales still down and mortgage rates for new homes still high. Builders are doing what they can do to encourage sales. New Deal democrat gives a clearer view and a hint of an outcome. Read on . . . Existing home sales try to find a bottom, while severe bifurcation […]
Housing under construction continues to levitate – by New Deal democrat Although they aren’t the most leading of housing metrics, because of supply-chain issues during the pandemic, housing units under construction has been the most important one, because they represent the actual economic activity of construction. With the exception of 2001, which was an investment-led […]
Have wages “really” increased since before the pandemic? – by New Deal democrat All of the remaining 2023 data – housing sales and construction, and personal income and spending, as well as the Index of Leading Indicators – will be reported this week. After Christmas, only initial claims will be reported next week. Today there […]
– by New Deal democrat My “Weekly Indicators” post is up at Seeking Alpha. The big decline in long term interest rates this week in the wake of the Fed’s announced “pivot” towards lowering rates created one of the biggest changes in the long leading indicators for several years. Meanwhile most of the coincident indicators continue to […]
Industrial production remains below late 2022 peak even after end of UAW strike – by New Deal democrat Industrial production historically has been the King of Coincident Indicators, turning up and down at the onset and end of recessions in the past. But as I wrote last month there are signs that has changed in […]
Real retail sales mildly positive, but still suggest further deceleration in job gains – by New Deal democrat Before proceeding further, I should mention – and should have mentioned as to jobless claims – that we are in that part of the year where seasonality often wreaks havoc, so outsized gains or losses should be taken […]
Jobless claims: good news all around – by New Deal democrat This was one of the best weeks as to jobless claims all year. Initial claims declined -17,000 to 202,000, a tie for the 2nd lowest number in 10 months. The four week average declined -7,750 to 213,250. With the usual one week delay, continuing […]