For some perspective on the single-family home market, today’s chart presents the median single-family home price divided by the price of one ounce of gold. This results in the home / gold ratio or the cost of the median single-family home in ounces of gold. For example, it currently takes a relatively low 116 ounces of gold to buy the median single-family home. This is dramatically less than the 601 ounces it took back in 2001. When priced in gold, the median single-family home is down 74% from its 2001 peak. Since making new 32 year lows last year, home prices (priced in that other global currency — gold) have worked their way higher. In fact, the median single-family home priced in gold has just broken above its eight-year, downward sloping trend channel.
Does the real estate rally continue? The answer may surprise you. Find out now with the exclusive & highly regarded charts of Chart of the Day Plus.
Quote of the Day
“There is nothing permanent except change.” – Heraclitus
Events of the Day
May 01, 2013 – May Day
May 04, 2013 – Kentucky Derby
May 05, 2013 – Cinco de Mayo (Mexico)
May 07, 2013 – National Teacher Day
May 12, 2013 – Mother’s Day
Stocks of the Day
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