Inventory

Lots of data this week on single-family lot supply, multi-family permitting volume, and the formation of stars in distant galaxies.

The new jobs number startled economists, analysts, investors, and most importantly, the Federal Reserve Bank with an actual increase more than twice the consensus forecast.

Lumber prices spiked in the second week of January despite a slow and still slowing housing market. Suppliers have down-sized dramatically and are anticipating at least a modest recovery as mortgage rates slowly fall.

Inflation seems to be slowing, but housing costs are outpacing price increases in other goods and services. Rents are declining. For-sale inventory is rising because of slowing sales.