U.S. consumer confidence unexpectedly strengthened in October, and housing prices may have peaked

$Zillow-C(Z.US)$ $D.R. Horton(DHI.US)$ $Beazer Homes USA(BZH.US)$ Consumer confidence in the United States unexpectedly strengthened in October, and concerns about high inflation were overshadowed by improved labor market prospects, suggesting that economic growth is picking up after a turbulent third quarter. The World Enterprise Research Institute's consumer confidence index rose to 113.8 in October, ending the previous three-month consecutive decline. Good news is also coming from the real estate market. The US Department of Commerce said in a report that in September, new home sales surged by 14.0%, with an annual rate of 800,000 after seasonal adjustments. The United States Federal Housing Finance Bureau report shows that in August, house prices jumped 18.5% year-on-year, and July rose 19.2%, a record. This shows that the price rise has reached its peak.

Article excerpted from Reuters Financial Morning Post