Intertwined Forces Driving Housing Market Crazy

The housing market is crazy!  More than one industry professional has reached that conclusion, watching trends that seem inconsistent, if not contradictory. 

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What has been a quiet hum of concern about the housing market has grown louder, reflected in the comments of industry analysts and in headlines such as these: “Home Buyer Demand Cools Off”; “Housing Market Showing Signs of Cracking”; “Is the High-Flying Housing Market Heading for a Fall?”

April produced a mix of indicators, some stronger than others, but most landing firmly on the solid end of the performance spectrum.

If economic reports were songs, you might be humming the monthly reports from memory. The numbers have been changing from month to month, but the tune has remained the same. June was no exception. Once again, the reports tell us: The economic recovery, already the longest on record, continues.

Anyone looking for clarity or consistency in the March economic data will have to look hard and will likely be disappointed. If there is a pattern, it is disjointed – a tug-of-war between competing narratives, one suggesting a confident upward trajectory and the other cause to question it.