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PHILADELPHIES – Nationally syndicated host and biblical investment agency And Celia took a look at this week’s housing and construction trends compared to previous statistics.
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“Well, we have a lot of economic data to watch out for this week,” Celia said. “We published the NAHB housing market index (National Association of Home Builders). It’s at 81 which is very low for this time of year. So when the July issue comes out we will hopefully see some pickups there.
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“For housing and revenue, we’ve put out building permits and housing statistics, and we also have existing property sales,” Celia continued. “So all of these things are going to give us a pretty good indication of where we might be going in the coming month. By the way, these are all June numbers, unfortunately. We have to think that it would pick up a bit in July and August, but it’s a June number. And April traditionally starts off as a very good construction period, and we have not seen that this year. It has a lot to do with low supply when demand is high and the inability to keep supply with demand or wanting to keep supply because of the high cost of goods. So that certainly has something to do with all of this.
“We’re getting some PMI production numbers on Friday that are expected to decrease. We had good productivity numbers last week and extremely good production numbers from New York and Philadelphia. So you have to believe that we end up with a very good production number just to keep the correlation. “