Case-Shiller Home Price Index rose 0.7% in September. Denver is now the most above pre-crisis levels while Las Vegas continues to lag the furthest behind. Based on existing home supply, we may soon see a leveling out of the year-over-year price gains....
Pending home sales dropped to 102.1 in October (the prior month was revised up slightly from 101.6 to 102.7). This will probably temper any expectations for a gain in existing home sales in November....
Mortgage apps and existing home sales both fell. Mortgage apps dropped 2.3% week-over-week while existing home sales it’s first 3-month decline since May 2011. The year-over-year change in the CPI fell to a four-year low. Other than the negative CPI prints in 2009, this is...
An under appreciated aspect of the rebound in the housing market has been the relative lack of a rebound in the Northeast. According to Case-Shiller, New York City has had the weakest rebound in prices from their lows of the twenty cities they track and...
Mortgage Applications remain weak in the US. The move back up in rates recently would only seem to make this trend continue. US homebuilder stocks look like they will remain under pressure as well....
Getting timely data on house prices is tricky. The Case-Shiller Home Price Index tracks 20 cities but with a two month time lag. The latest data (August) shows a couple of interesting points emerging about the national housing market....
The Pending Home Sales Index has been running quite a bit hotter than the Existing Home Sales Index since late 2011. This month’s report cooled that trend somewhat. The Pending Home Sales Index surprised on the downside in September. The consensus expectation was for no...
US existing home sales dropped 1.9% in September following a downwardly revised reading for August. Median home selling price has fallen over 7% since making a 5-year high in June. The number of months supply has remained right around 5 months over the past half...
The NAHB Housing Market Index ticket down from 57 to 55 in October. However, the index has shown a surprisingly strong negative correlation with the Unemployment Rate (Index goes up, Unemployment rate goes down). This relationship would suggest that the unemployment rate continues to fall...
Mortgage applications have only slightly bounced after plunging from May to September....
