September’s 20-City Housing Market Index from Case-Shiller showed signs that rapidly rising home prices in some metro areas may be losing momentum. San Francisco, California, posted a month-to-month reading of -0.40 percent and a year-over-year reading of 5.70 percent. Home prices stayed flat in Seattle Washington from August to September, but posted the highest home price gain of 11.00 percent year-over-year. Slowing home price growth in high-demand areas suggest that affordability concerns are impacting rapid gains in home prices seen in recent years.
Category Archives: Housing Market
Home Builder Sentiment Unchanged in November
According to the National Association of Home Builders Housing Market Index for November, builder sentiment was unchanged at a reading of 63. Readings above 50 indicate that a majority of builders are confident about housing market conditions. Readings for three sub-indexes used to calculate the Housing Market Index Readings for builder confidence in current market conditions and market conditions within the next six months were posted at 69. The reading for buyer foot traffic in housing developments was 47. Buyer traffic has not reached the benchmark reading of 50 since the peak of the housing bubble approximately 10 years ago.
NAHB Housing Market Index Dips 2 Points
According to the National Association of Home Builders, overall builder confidence in housing markets dropped two points in October to an index reading of 63. September’s reading of 65 was the highest posted since the housing bubble peak.
NAHB: Home Builder Confidence Holds Steady in May
The National Association of Home Builders reported that home builder confidence in the U.S. housing market conditions held steady for the fourth consecutive month in May. Builder confidence stayed at a reading of 58, which was the number expected by analysts and was also the reading for April. Analysts said that the consistency in readings signified expansion in housing markets. Any reading over 50 indicates that more builders than not are confident about market conditions.
Case-Shiller: Home Price Growth Slower in November
Case-Shiller Home Price Index reports for November indicate that home price growth continues to slow. The 20-City Home Price Index dropped by 0.20 percent to November’s reading of 4.30 percent year-over-year.
Home Builder Index Stays Near Nine Year Peak
Home Builder Sentiment slipped to a reading of 57 in December according to the National Association of Home Builders Housing Market Index. November’s reading of 58 prompted analysts to project a reading of 59 for December. The latest reading marks the sixth consecutive month for readings above 50.
DOC New Home Sales and NAR Existing Home Sales
The Department of Commerce reported July sales of new homes dropped by 2.40 percent over June to a four month low. Analysts noted that although July’s reading of 412,000 new homes sold fell short of expectations and June’s reading, the new homes sector is volatile and subject to change.