The Conference Board’s US Consumer Confidence index rose to a new cycle high of 63.3 in May, from 57.7 (was 57.9) in April, 46.4 in February, and 56.5 in January. Yet despite the climb from the dismal February reading, we are still in recession territory, though we are at least now well above the 47.3 all-time low from before this cycle, seen in February 1992, and the pre-1992 record low of 50.1 in May 1980.
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
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The story for the housing market over the past three years has been, “Home sales are down, home prices are up.” Because inventory was so restricted after the pandemic, prices pushed higher even as demand weakened. That story may finally be inverting as unsold inventory of homes is now great enough that home prices are […]
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Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio