CHART OF THE DAY: U.S. Housing Inventory Hovering Around All-Time Lows

This chart from today's Early Look by Daryl Jones shows a 10% month-over-month decrease in housing inventory, dropping to a mere 1 million units in December.

Lack of housing is one big challenge keeping inflation elevated above the Fed's desired 2% rate.

You don’t have to be the Frank Lloyd Wright of economics to understand that this abnormally low supply will keep the supply/demand dynamics tight and keep a bid on housing prices. This matters because housing is roughly one-third of CPI.

WATCH NEXT: Growth + Inflation Slowing: 'China A Perfect Example of Quad 4" McCullough: Don't Be Fooled By U.S. Government's Economic Numbers Win-Win: Our Analysts' Long $AMZN + Short $AAPL Calls Confirmed 'Magnificent' Divergence: $TSLA Tanking as $NVDA Goes Vertical

HELPFUL LINKS:

WATCH | Get 10 Stock Picks on The Call @ Hedgeye

FREE REPLAY | The Macro Show on Our Inflation Outlook

Join New Subscriber Orientation

New Conference: Hedgeye Live 2024 May 2-5

Hedgeye University | Become a Better Investor

Hedgeye Education Center | Learn More About Hedgeye