Case Shiller Home Price Index

The annual price change for houses from Oct 2022 to Oct 2023 is 4.8%. Though the monthly price increases are slowing, the annual inflation rate will continue to rise because of the disinflation at the end of 2022. The max benefit of falling prices was Jan 2023, so expect the annual inflation rate for house prices to continue to rise until the Jan 2024 release scheduled for March 26, 2024. Unless prices start falling, annual price increases will be above 6% on that release date.

Initial Jobless Claims

Initial claims ticked up to 218,000 but still at levels that do not cause concern. With the exception of the 3rd week in November, continuing claims are at their highest level in the last 2 years.

 

Chicago PMI

After a surprisingly good November reading of 55.8, December’s print disappointed and is back into contractionary levels at 46.9. Looking back we certainly have seen strength throughout 2023 relative to the November 2022 low.

 

Disclaimer: This information is presented for informational purposes only and does not constitute an offer to sell, or the solicitation of an offer to buy any investment products. None of the information herein constitutes an investment recommendation, investment advice or an investment outlook. The opinions and conclusions contained in this report are those of the individual expressing those opinions. This information is non-tailored, non-specific information presented without regard for individual investment preferences or risk parameters. Some investments are not suitable for all investors, all investments entail risk and there can be no assurance that any investment strategy will be successful. This information is based on sources believed to be reliable and Alhambra is not responsible for errors, inaccuracies, or omissions of information. For more information contact Alhambra Investment Partners at 1-888-777-0970 or email us at info@alhambrapartners.com.