PHILADELPHIA—Nationally syndicated host and biblical investing authority Dan Celia discussed the status of the housing market, as well as the new economic data on the horizon for the week.
Celia stated, “As we get through the middle of the week, we see some economic data coming out. It looks like home prices for the month of November were up 18.8%, but that is lower than it was for the month of October. November really kicks off the slow season for home prices and homes in general, but we’ll see what the December number looks like and where we end up for the year. It is anticipated that home prices will be up over 18% year over year by the end of December. That’s a phenomenal number. We’ll see what that does to prices as we move forward. As we see interest rates rising, we’ll watch mortgage rates go up slightly. It is likely that home prices will stabilize from here, if not go down.
“The Consumer Confidence Index was down on Tuesday to around 113.8. They were expecting 111. It is definitely under the 115 that we saw for the month of December. But nonetheless, we are down and that’s not good news. That’s never good news. That’s a good indicator of where we might be as we head deeper into the new year. There’s lots of other economic data on the horizon this week, and Friday is going to be a big day as we look at personal income consumer spending and the Michigan consumer sentiment number. We are constantly looking to see what might lie ahead for this economy and how it will impact the markets.”
Celia discusses these and other global and economic headlines on his daily, three-hour “Financial Issues” program, heard on more than 660 radio stations and several television networks nationwide, including FISM.TV, viewed on several post-cable television platforms and online.
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