New Home Sales Hit 10-Year High (#GrowthAccelerating Chart of the Day)

11/28/17 09:13AM EST

Editor's Note: Below is a brief excerpt and chart from today's Early Look written by CEO Keith McCullough. Click here to learn more about the Early Look. 

New Home Sales Hit 10-Year High (#GrowthAccelerating Chart of the Day) - 11.28.17 EL

In terms of contextualizing the most recent US economic data, I can do that both accurately and quickly:

  1. Last week’s US Durable Goods report (ex-aircraft & defense) was up +6.5% year-over-year in OCT = 37 month high
  2. Last week’s US Capex report was up an impressive +8.1% year-over-year in OCT = just off 65 month highs
  3. Yesterday’s US New Home Sales report was +18.7% year-over-year = 10 year highs

New Homes, Capital Expenditures, and Durable Goods demand #accelerating (great proxy for household spending on big ticket items) are hardly the “soft data” points that US growth bears spent most of JAN-JUL of 2017 whining about.

New Home Sales Hit 10-Year High (#GrowthAccelerating Chart of the Day) - Email graphic Cyber Monday 2

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