December 2024 Erdmann Housing Tracker

CPI isn’t updated for December yet, so inflation numbers will need to wait a couple of days.

Yesterday, KB Homes reported earnings. For what seems like about the 300th homebuilder report in a row, the CEO reported that results were good “despite ongoing mortgage interest rate headwinds”. I think we’ve found the elusive persistent financial trading anomaly. No matter how many times mortgage rates fail to have a strong effect on homebuilder markets, everyone will continue to expect them to.

Discussion of this month’s numbers below the paywall.