Daily Rundown
September 25, 2026
Chart of the Day
Number of the Day
$393,700
The median price of new homes sold in August, down 5.8 percent year-over-year and the lowest in an August since 2020
Quote of the Day
“Looking ahead, if conditions evolve as I expect, some modest further tightening may be warranted.”
Philadelphia Fed President Anna Paulson
Thursday’s Highlights
Initial unemployment claims (week of 9/13) edged lower by 1,000 to 197,000.
New home sales (August) jumped by 6.4 percent to an annualized 684,000, highest in eight months.
Costco same-store sales (June-August) rose by 6.7 percent year-over-year.
Quick Commentary
Home buyers are responding to lower prices, as sales of new houses have stabilized this year on the back of increasingly widespread discounts (note, as well, that other incentives, such as mortgage buydowns, closing-cost assistance, and upgrades are also on the rise). This is likely the path forward for housing, especially now that the Fed is in tightening mode: activity can start to pick up again, but only on the back of cooling prices.
Today’s Highlights
Durable goods orders
Consumer sentiment
Daily Trivia
What CEO was parodied by his company in 2010 with an app that featured an avatar simply repeating the word “developers”?
(Thursday’s Question: What is the only company in the S&P 500 that has a corporate office in a state with a postal code that matches the firm’s stock ticker? Answer: Mastercard (Massachusetts (MA))