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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
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Tuesday, April 24, 2012

Home Prices Rising but New Home Sales and Consumer Confidence Declining

Data released on Tuesday shows that Home Prices rose, but New Home Sales fell, as shown on the graphs below.

This data goes hand-in-hand with a decline in Existing Home Sales and in the NAHB Housing Market Index, as mentioned in my post of April 19th.



Additionally, Consumer Confidence fell, as shown on the graph below. Since it's a "leading indicator of consumer spending, which accounts for a majority of overall economic activity," it's worth tracking to see if this is a harbinger of economic contraction, or even recession.