Home price gains slowed in November and are now coming back down to more normal levels. The Case-Shiller 20-City Home Price Index rose 4.7% from November 2017 to November 2018, down from 5% in October. On a monthly basis, the 20-City Index rose 0.3%. The report read that stable 2% inflation, continued employment growth and rising wages are all favorable to the housing market ahead of the spring buying season.
Consumer Confidence edged lower in January from December to 120.2 from 126.6 though the index remains just below the all-time high levels, reported the Conference Board. Within the report it showed that those stating jobs are "plentiful" increased marginally, while those claiming jobs are "hard to get" also increased. "Shock events such as government shutdowns tend to have sharp, but temporary, impacts on consumer confidence. Thus, it appears that this month’s decline is more the result of a temporary shock than a precursor to a significant slowdown in the coming months," said Lynn Franco, Senior Director of Economic Indicators.
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