For the Week Ending August 25, 2023


  • Unemployment claims fell to the lowest level in 3 weeks, showing renewed labor force momentum and a healthy demand for workers.
  • Even with a resilient economy, small business confidence is back at an all-time low, according to a CNBC|SurveyMonkey Small Business Survey.
  • Credit card spending has propped up the economy but is showing signs of slowing, as consumers feel the pinch of higher rates.


  • July home sales fell again as supply dropped to a 25-year low. The number of homes for sale at month’s end was 14.6% lower year over year.
  • Inventory woes are sending more buyers to new construction. New home sales hit a 17-month high in July, up 31.5% over last year.
  • Home prices continue to move higher. The median price of a home sold in July was $406,700, an increase of 1.9% from a year ago.


“The bad news is time flies. The good news is you’re the pilot.”
Michael Altshuler