|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.Notes:
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