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U.S. Home Market

The sales and construction of single family homes in the U.S. are starting to trend sideways.  As it currently stands, the trends in single family housing are worrisome not just for the U.S. home market but for the U.S. economy as a whole.

The sales of existing homes are starting to trend down while the sales of new homes are trending sideways.  However as sales are stagnating, median new homes prices are appreciating at 6.7% per year.  But on a per square foot basis, new home prices are appreciating at 2.5% per year, which is inline with general inflation (current median price is $113/sf).

The construction of new homes is still trending slightly upwards, but may level out in the near future.  Starts of new, single family homes is trending sideways and running at a rate of 60K homes per month.  Single family homes under construction is trending slightly up and is currently running at a rate of 350K homes per year.  However if sales and starts don't pick up, homes under construction will follow starts and will also level out.

In summary: sales flat, prices up, construction growth slowing.

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Current Economic Indicators

December 16, 2014 (Close of Day)

Indicator

Value

S&P 500 1,972.74
US GDP Growth, % 2.43
US Inflation Rate, % 1.66
US Unemployment Rate, % 5.8
Gold Price, $/oz 1,202.50
WTI Oil Price, $/bbl 55.50
US 10 Yr Treasury, % 2.07