Construction Spending

February 1, 2023 . Construction spending (the green bars above) fell 0.4% in December after having risen 0.5% in November and being unchanged in October.   In the past 12 months it has risen 7.7%.  As indicated  below, spending on the construction of single-family...

Case Shiller Index of Home Prices

January 31, 2023 The Case Shiller Index of Home Prices in 20 cities fell 0.8% in November after having declined 0.8% in October.  This is the fifth monthly decline in this series.  After a long period of rising rapidly, prices have begun to fall and they should...

New Home Sales

January 26, 2023 New home sales rose 2.3% in December to 616 thousand after having risen 0.7% in November.   The combined impact of a sharp rise in mortgage rates and rapid price appreciation triggered the sharp drop in home sales throughout 2022.  However with...

Existing Home Sales

January 20, 2023 . Existing home sales fell 1.5% in December to 4,020 thousand after declining 7.9% in November .  In fact, this is the eleventh consecutive decline in sales since reaching a peak in January at 6,490 thousand.  Clearly home sales are being impacted by...

Housing Starts

January 20, 2023 Housing starts fell 1.4% in December to 1,382 thousand after declining 1.8% in November.  It may be that December is the low point for housing starts and building permits. Builders confidence rose 4 points in January to 35.  This follows twelve...

Homebuilder Confidence

January 19, 2023 Homebuilder confidence rose 4 points in January to 35 after falling 2 points in December.  this is the first increase in this series since December 2021 when this series peaked at 84.  This is the lowest reading since April 2020 .  The combination of...