Australia’s Consumer Price Index rose 4.0% over the most recent 12 months, above the 3.8% expected increase and well higher than last month’s 3.6%. This raises the odds of a hike in rates at the Aussie’s next Central Bank meeting and comes when other central banks around the globe are reducing rates.  Crocodile Dundee stands ready to cut rates when the time is right. Here in the U.S., our Fed is still tabling a rate cut until at least September.

New Home Sales fell 11.3% this month and there is a 9.3 month supply of homes available for sale, nationwide. Utah’s market is tighter than that, particularly since our buildable area is constrained by surrounding mountains, and our three metro valleys each have a lake in the middle of them.