Home Prices Stabilizing

Market Overview
Read time 0.8 minutes

Year To Date Performances:

1. Home prices are showing signs of stabilizing and are predicted to increase in the coming year. While single-family home price growth reached its lowest annual level since 2012 in May, CoreLogic's Home Price Index Forecast indicates an expected increase of 4.5% through May 2024. Additionally, Black Knight's data reveals that US home prices reached a new record high in May, rising by 0.7%. These trends suggest continued strength in the housing market, with prices trending upward and reaching new milestones.

2. The recent rally in stocks appears to be spreading across the market. The equal-weight S&P 500 index has outperformed the market cap-weighted counterpart in the past month, indicating broader strength. Additionally, the cumulative advance/decline line readings, which measure the breadth of market participation, show positive momentum, particularly in the Discretionary and Industrials sectors, which are considered cyclical. Furthermore, small-cap stocks have seen consecutive weeks of inflows, coinciding with the Russell 2000 index's golden cross, a technical indicator signalling a potential uptrend. These developments suggest a broadening of market participation and positive sentiment across different sectors and market segments.

3. Achieving SOC 2 compliance proves to customers that you prioritize protecting their data. This proof of observation can help you raise capital, scale your business, and rise above the competition. 

   Vanta’s SOC 2 checklist breaks down the process and gives you a digestible view of the road ahead. Download it here to get started.*

4. Headlines

   1. A US Federal Judge has denied the FTC’s attempt to prevent Microsoft from acquiring Activision Blizzard for $75B.

   2. KPMG has announced a $2B partnership with Microsoft to develop generative AI tools for businesses.

   _{* This is sponsored content}