The Covid-19 pandemic disrupted the global economy ferociously the past several months, although several data points showed improvement in May, some of them substantially. US retail sales was one of them. Persistently elevated home prices must be helping consumer sentiment. … Continued
Consumer sentiment tumbled in March but remains elevated. The latest collapse in stocks probably played a role. Another important variable worth watching is home prices, which for years have risen faster than inflation and have been a big tailwind from … Continued
Appreciation in US home prices – or a lack thereof – tends to impact consumer psyche. Currently, prices are not that far away from record levels, but the rate of growth is in deceleration. If the trend persists, this has … Continued
Homebuilder-focused ETF’s are at/near record highs. Momentum is intact, but builder sentiment – also at multi-year highs – is worth watching. Homebuilding stocks are on fire. XHB (SPDR S&P homebuilders ETF) is already up 5.6 percent for the year. Monday, … Continued
U.S. home ownership has ticked up four-tenths of a percent since 2Q15 to 63.8 percent in 4Q15. The 63.4 percent two quarters ago was the lowest since 63.3 percent in 1Q67. Since the all-time high of 69.2 percent in 2Q04, … Continued