Consumer Sentiment and New Single-Family Home Sales Rise

According to the National Association of Manufacturers’ (NAM) Monday Economic Report for this week, the Index of Consumer Sentiment rose from 59.7 in December to 64.9 in January, a nine-month high, according to final data from the University of Michigan and Thomson Reuters. Assessments of current conditions improved strongly, buoyed by labor market strength and slowing inflation data. Expectations of future conditions also improved in January.  

New single-family home sales increased for the third straight month, rising 2.3% from 602,000 units at the annual rate in November to 616,000 units in December. Despite this progress, single-family home sales have fallen 26.6% YoY.