News & Opinions
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UPDATE: your first alert on housing’s data trifecta–prices, new home sales, and consumer confidence
John McManus / BUILDER / June 25, 2013
A housing data trifecta–prices, new home sales, and consumer confidence–beneath the June mega-moon
A housing data trifecta–CoreLogic S&P/Case-Shiller house price indexfor April, the Census Bureau’s New Home Sales report for May, and the Conference Board consumer confidence index–all takes place by 10 a.m. EDT, today. Case-Shiller, a trailing indicator, but one that has Animal Spirits market-making impact, eclipsed Wall Street expectations.
The question for home builders, architects, building products manufacturers, materials suppliers, and their respective investment partners will be–even after this morning’s data download: what’s the signal and what’s the noise? Is it more instructive to look at absolute numbers, their pathway or trajectory, or rates of change to them? Underlying housing’s progress from its dark depths–prices are still 25% lower than their national peak values in 2006.
Here’s preliminary comment on prices from Calculated Risk’s Bill McBride.