Home Prices rose 1.1% last month and 6.7% from this time last year, according to the latest CoreLogic report. Last month’s numbers showed a 6.3% year-over-year gain, so one would think that home values are definitely gathering steam; however the appreciation rate forecasted for the next 12 months is only at 4.6% nationwide. You can see from the chart above that Utah had a better than average price bump last year, and is anticipated to be right at that 4.6% in 2017.
Iin the labor market, Productivity rose 3.1% in the 3rd quarter, just under the 3.3% advance anticipated. At the same time, labor costs are up 0.7%, which is more than the 0.3% expected. It’s costing more money to get less work done.
Stocks and bonds are both up marginally this morning. Bond prices are at two year lows right now, while the stock indices are at all-time highs.