Image source: Pixabay

Case Shiller Home Price Index

The annual price change for houses from Oct 2022 to Oct 2023 is 4.8%. Though the monthly price increases are slowing, the annual inflation rate will continue to rise because of the disinflation at the end of 2022. The max benefit of falling prices was Jan 2023, so expect the annual inflation rate for house prices to continue to rise until the Jan 2024 release scheduled for March 26, 2024. Unless prices start falling, annual price increases will be above 6% on that release date.

(Click on image to enlarge)

Initial Jobless Claims

Initial claims ticked up to 218,000 but still at levels that do not cause concern. With the exception of the 3rd week in November, continuing claims are at their highest level in the last 2 years.

(Click on image to enlarge)

Chicago PMI

After a surprisingly good November reading of 55.8, December’s print disappointed and is back into contractionary levels at 46.9. Looking back we certainly have seen strength throughout 2023 relative to the November 2022 low.

More By This Author:

Macro - Construction Spending
Macro - Durable Goods
Macro: The Index Of Consumer Sentiment