THE BASIS POINT

Consumer Confidence Strong. Home Prices down Slightly.

 

Redbook Chain Store Sales (week ended 9/26/2015)

– Chain Store Sales year/year +0.9%. Previous was +0.9%

 

S&P Case-Shiller Home Price Index (July 2015)

– 20-city, seasonally adjusted month/month -0.2%. Previous was -0.2%
– 20-city, not seasonally adjusted month/month  +0.6%. Previous was +0.9%
– 20-city, not seasonally adjusted year/year  +5.0%. Previous was +4.9%.
This is an average for 20 cities and has value only on a macroeconomic level.  Home prices are pushing the limits of affordability in many places and flat places are not the worst outcome for those buying.  This may also indicate that the era of speculative real estate buying will not return for some time.

 

Consumer Confidence (September 2015)

– Consumer Confidence 103.0  Previous was 101.3.

Since August had a very large surge upwards these back-to-back gains are strong.

This is the metric from the Conference Board. Consumer Confidence is supposed to be a leading indicator of retail sales.

 

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