THE BASIS POINT

New Home Sales Up

New Home Sales (November 2016)

– New Home Sales seasonally adjusted, annualized 592,000. Previous was 563,000.

New Home Sales and Home Sales is general are held low by lack of supply which has also driven prices up. Lack of supply is a consequence both of economic uncertainty and local regulations which restrict building.

 
Consumer Sentiment (December 2016)

– Sentiment Index 98.2. Previous was 98.0.

The is the University of Michigan Index. It is supposed to be a leading indicator of Consumer Spending in the next few months.