New homes sales, PMI, Chicago Fed, recovery tracker

Covid dip, recovery, and now settling back at prior levels. After years of ultra low mortgage rates growth remains slower and absolute levels far below the prior cycle:

Post war slowdown narrative continues to unfold:

“The Chicago Fed National Activity Index in the US dropped to -0.15 in December 2021 from an upwardly revised +0.44 in the previous month, suggesting there was a contraction in economic activity following a two-month period of expansion.”