Despite rising demand for newly built homes, construction employment in August remained flat, stuck at the same paltry pace for the past four months. The numbers don’t make a lot of sense at face value, given that housing starts are up in both single and multi-family, and builders are reporting big jumps in new orders for homes.
The author writes, "More recently, some electronic trading practices, driven by micro-movements in market price, are yet another indication that much of the market’s behavior is still driven by price-trending as opposed to value hunting."