ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Housing Market Intro and Summary While Congressional passage of landmark housing legislation positively changed sentiment toward home builders, the underlying housing data continues to point toward stasis. Only existing home sales showed life in May while all the other indicators deteriorated or remained flattish. A decline in builder sentiment for May suggests that housing data … Read more
Housing Market Intro and Summary The housing market again seemed to tell a tale of divergent markets between new and existing homes. While new home sales and starts fared well, a large setback in builder sentiment sets the stage for setbacks in April’s new home sales. Existing home sales completely erased the wistful optimism from … Read more
Housing Market Intro and Summary The housing market is entering its spring selling season, but for me this moment is more about spring cleaning. The seasonal trade in home builders and housing-related optimism has run its course far sooner and far weaker than I expected. What should have been a period of improving momentum has … Read more
Housing Market Intro and Summary The housing market is currently defined by a split between new vs old, new home sales and existing home sales. Data on builder stocks, housing starts, and new home sales tell a diverging story from existing home sales data across the country. Homebuilder equities remain sensitive to policy headlines but … Read more
Housing Market Intro and Summary The U.S. housing market ended 2025 with mixed signals. Builder stocks are stuck in trading ranges, builder confidence has stalled, and affordability remains strained. Pockets of strength in sales activity is likely coming from a softening price environment and higher inventory levels. The data points do not tell a single, … Read more