Case Shiller

Last week’s economic reporting included readings from the National Association of Home Builders on national and regional  U.S. housing markets. The National Association of Realtors® reported on sales of previously-owned homes, and the Commerce Department released readings on building permits issued and housing starts. Weekly readings on mortgage rates and jobless claims were also released. NAHB: Home Builder Confidence in Housing Market Falls for 10th Consecutive Month The National Association of Home Builders reported that home builder confidence in the U.S housing market fell for the 8th consecutive month in October; the organization described the situation as “unsustainable.” The NAHB…

Last week’s economic reporting included readings on month-to-month and year-over-year inflation and the minutes of the most recent meeting of the Federal Reserve’s Federal Open Market Committee. The University of Michigan published its preliminary consumer sentiment reading and weekly reports on mortgage rates and jobless claims were also released. September Inflation Readings Provide No Relief Inflation rose by a month-to-month pace of  0.40 percent in September as costs for staples including rent, food, and medical care increased. The Fed raised its target interest rate by 0.75 percent. Year-over-year inflation rose by 7.20 percent; this was the highest growth reading since…

The S&P Case-Shiller Home Price Indices for July showed a sharp slowing in home price growth from June to July. National home price growth slowed from June’s reading of 18.7 percent year-over-year growth to 16.10 percent home price growth in July. This reading translated to an 0.20 percent loss in month-to-month home price growth. The S&P Case-Shiller 20-City Home Price Index fell 0.40 percent in July after increasing by 0.40 percent in June. This was the first time since March 2012 that the 20-City Home Price Index posted a decreasing pace of home price growth; all 20 cities posted slower…

Last week’s economic reporting included readings on housing markets, building permits issued, housing starts, and sales of previously-owned homes. The Federal Reserve released its scheduled monetary policy statement and gave a  press conference with Fed Chair Jerome Powell. Weekly readings on mortgage rates and jobless claims were also published. NAHB: Home Builder Confidence In Housing Markets Lags for 9th Consecutive Month The National Association of Home Builders reported lower builder confidence in housing markets in September; this was the ninth straight month that builder confidence fell. Readings of 50 and above indicate that most home builders surveyed reported positive views…

Last week’s economic news included readings on pending home sales, new home sales, and readings on monthly and yearly inflation rates. Weekly readings on mortgage rates and jobless claims were also published along with the University of Michigan’s final monthly and year-over-year readings on consumer sentiment. Commerce Department Reports Fewer New Homes Sold in July Sales of new homes fell by 12.60 percent month-to-month and were 29.6 percent lower year-over-year in July. The Commerce Department reported a year-over-year sales pace of 511,000 new homes sold in July as compared with June’s revised pace of 585,000 new homes sold. June’s reading…