HOMZ News and Press, Hoya Capital Housing From 11/27/23

2023-11-27 23:45:00 ET Summary While I have seen the VIX fall under 10 in more normal times, I don’t believe the present times could be considered normal. Why do I think this correction would be small? Because investors have been looking for dips to buy and dips have not be...

2023-11-27 22:10:00 ET Summary The median price of new single-family houses sold in October fell by 3.1% from September, to $409,300, the lowest since August 2021, down by 17.6% from a year ago. Sales of new houses – not seasonally adjusted, and not the annual rate of sales...

2023-11-27 03:50:00 ET Summary The Chicago Fed Activities Index shows an expected drop in October versus strong September. We are near concerning levels, which would be below -.5. Existing home sales are down again and inventory is up. Many home owners are locked into their home b...

2023-11-25 00:30:00 ET Summary One trend investors have become used to over the last year is the outperformance of mega-cap stocks while seemingly every other stock in the S&P 500 struggles. Across the S&P 500, the average performance of stocks in the index is a gain of 9....

2023-11-23 01:10:00 ET Summary For much of the year, in fact, seven companies were the only thing driving the market – had it not been for their existence, the S&P 500 would have been underwater for much of the first half of the year. The pace has shifted a bit since th...

2023-11-22 02:15:00 ET Summary Q3 earnings season had many familiar refrains relative to the year’s first two quarters. One difference was a return to positive earnings growth for the first time since Q3 2022. Not unlike the first two quarters of the year, earnings for ...

2023-11-22 00:05:00 ET Summary Some encouraging economic data (CPI, PPI) last week sustained markets, even as mixed Q3 results from US retailers began to pour in. The post-peak LERI ended with a reading of 122, showing that CEOs remained uncertain throughout the season. Retail...

2023-11-21 21:30:00 ET Summary The national median price of existing homes of all types – single-family houses, condos, and co-ops – whose sales closed in October dropped to $391,800, down by 5.1% from the peak in June 2022. The median price in June 2023, the seasona...

2023-11-21 20:15:00 ET Summary There is a gradual thawing of the pessimism that has wracked equity prices since the end of 2021. The important economic trends continued to trend higher despite most investors expecting a recession that has not occurred and not likely to occur near ...

2023-11-21 18:50:00 ET Summary One of the big stories of the year has been the lack of breadth in the performance of the US stock market. The so-called “magnificent 7” of Microsoft, Amazon, Apple, Google, Meta, Tesla and Nvidia have generated 71% returns. The S&a...