Home prices continue to increase at a moderate pace across the U.S. with a stable housing market in November. The S&P Case-Shiller 20-City Home Price Index rose 2.6% annually up from the 2.2% gain seen in October. The national index increased 3.5% annually from 3.2% in October. The housing market has gained momentum since November as we are almost now in February for this backward-looking report.
A report out today shows that consumers will continue to drive growth and prevent the U.S. economy from slowing in early 2020. The Conference Board reports that its Consumer Confidence Index surged to 131.6 this month from 126.5 in December and above the 128.0 expected. Within the report, it showed that business conditions increased while the job component increased. Lynn Franco, Senior Director, Economic Indicators, at The Conference Board said, “Optimism about the labor market should continue to support confidence in the short-term and, as a result, consumers will continue driving growth and prevent the economy from slowing in early 2020."