Home Prices up. Chain Store Sales Disappoint.

Case-Shiller Home Price Index (October 2012)

- 20-city, Seasonally Adjusted – Month/Month +0.7%

- 20-city, Not Seasonally Adjusted – Month/Month -0.1%

- 20-city, Not Seasonally Adjusted – Year/Year +4.3%

It is my belief that home prices are rising because of lack of supply elasticity. There are still too many people with no equity and this eliminates sellers increasing prices.

Chain Store Sales (week ended 12/22/2012)

ICSC-Goldman Store Sales

Store Sales – Week/Week +0.7%. Previous was +4.3%.

Store Sales – Year/Year +3.2%. Previous was +3.5%.

Redbook

- Store Sales Year/Year +2.4%.  Previous was +2.4%.

The chain store sales figures are disappointing.

Richmond Fed Manufacturing Index (December 2012)

 - Level was +5.  Previous was +9.

 
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