2024 Record Highs and Record Lows

Indexing Indexed Indices

The Memo:

Re: Closing out the year in Housing Markets

From: Ulysses Awsumb (@MrAwsumb)

Comments: 2024 Joined the record books with highs and lows in different categories.

• Units Under Construction: 2024 saw record amounts of housing under construction. Taking 3 of the top 30 (monthly) spots.

• Housing Backlogs: Housing backlogs are beginning to dissapear at a faster pace as completions outpace replacement backlog inventory.

• Existing Homes; S&P Core Logic Case Shiller Index: New index released today for October. On a YOY basis, it came in between my high and low range forecast, at 3.6%. The high range forecast was 3.78% and low range was 3.08%. 2025 migh see a Case of the Case Shiller Chilled. EFF Cycle Index included.

• NAHB Wells Fargo Index: EFF Cycle Index version right on par with Fed Rate Cycle #2 of the century.

• US Homebuilding Situation Index: All time record low on the index. Time to sell some inventory.

May 2025 be the year of making offers, better negotiating and filled with peace and prosperity.

Happy New Year!

-Ulysses Awsumb

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