Home prices/Consumer confidence, and expectations rise again for stock prices/Mfr'g/Home sales

According to S&P CoreLogic, home prices rose again in September, by .33% m/o/m as the affordability challenge continues for first time buyers while existing homeowners benefit further from rising wealth. Prices are up 3.9% y/o/y but that rate of change is moderating.

This index is up 51% since December 2019 and some still wonder why we have a bifurcated economy. One either has assets in this economy or does not.

Home Price Change y/o/y

The November consumer confidence index from the Conference Board was 111.7 as expected but up from 109.6 in October. That’s also the best since July 2023. Most of the gain was in the Present Situation which gained 4.8 pts m/o/m while Expectations was up .4 pts. One year inflation expectations slipped to 4.9% from 5.2% and that is the lowest since March 2020.