Construction Spending

July 1, 2025 Construction spending (the green bars above) fell 0.3% in May have having declined 0.2% in April..  This indicator has fallen slowly for the past seven months..  In the past 12 months it has declined 3.5%. Private construction spending (excluding the...

Pending Home Sales

June 26, 2025 Pending home sales rose 1.8% in May to 72.6 after having declined 6.3% in April.  This series hops around from month to month, but pending home sales have been fairly steady for the pst couple of years ., The National Association of Realtors chief...

New Home Sales

June 25, 2025 New home sales plunged by 13.7% in May to 623 thousand after having jumped 9.6% in April  In the past year new home sales have declined 6.3%.   New home sales can be volatile from month to month and perhaps the most accurate description of where they...

Case Shiller Index of Home Prices

June 24, 2025 The seasonally adjusted Case Shiller Index of Home Prices in 20 cities declined 0.3% in April after having fallen 0.2% in March.  Prices have risen 3.4% in the past year. The National Index which is a slightly broader measure of home price increases fell...

Existing Home Sales

June 23, 2025 . Existing home sales rose 0.8% in May to 4,030 thousand after having fallen 0.5% in April.  Our expectation is that a steady increase in jobs will boost income, mortgage rates will be fairly steady in the months ahead, and prices should also be about...

Housing Starts

June 18, 2025 Housing starts plunged by 9.8% in May to 1,256 thousand after rising 2.7% in April.  While starts have been exceptionally volatile in recent months, they do appear to be softening.  This reflects uncertainty regarding tariffs and their  potential impact...