Everyday Economics: Economy holding, but squeeze is building

(The Center Square) – This week brings three important reads on the economy: the S&P CoreLogic Case-Shiller Home Price Index, new home sales and the Personal Consumption Expenditures report. The housing data will matter. But they will mostly confirm what the more timely Zillow data already show. The national housing market is moving sideways. Home price growth has slowed. Sales are roughly flat from a year ago. Newly built homes remain one of the few parts of the market where buyers have more choices. Builders have been more willing than existing homeowners to cut prices, offer incentives and meet the market where demand actually is. That distinction matters. Housing is not weak everywhere for the same reason. Existing home sales are rising in markets where inventory has improved and prices have adjusted. New construction follows the same basic logic. More available homes, lower effective prices and builder