SFLA - Most Leading Housing Indicators Rebounded Sharply In May
Introduction
Last week housing permits and starts for May were reported, followed by existing and new home sales yesterday and today, respectively. All but existing home sales showed a rebound. Because housing is such an important long leading indicator for the economy 12+ months out, this is a good time to update.
A note about Coronavirus
First things first: ultimately the economy over the next few months or year is going to be determined by the course of the coronavirus pandemic, and people's behavioral reactions to that pandemic. While the behavior of the virus itself