Daily Archives: October 25, 2016

Case-Shiller: Rising house prices just below record highs | Pound Ridge Real Estate

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Home prices are continuing to rise; now mere basis points below the all-time highs for prices, set in 2006.

According to the latest data released Tuesday by S&P Dow Jones Indices and CoreLogic, the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, which covers all nine U.S. census divisions, reported a 5.3% annual gain in August, up from 5% in July.

Per the report, the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index is currently at 184.42, which is within 0.1% of its record high of 184.62, set in July 2006.

The increase in August represents the 52nd consecutive month of positive gains.

According to the Case-Shiller report, the 10-City Composite posted a 4.3% annual increase, up from 4.1% in July, while the 20-City Composite posted a 5.1% annual increase, up from 5.0% in July.

The report states that Portland, Seattle and Denver turned in the highest year-over-year gains among the 20 cities for the seventh consecutive month, with year-over-year increases of 11.7%, 11.4% and 8.8%, respectively.

“Supported by continued moderate economic growth, home prices extended recent gains,” said David Blitzer, managing director and chairman of the Index Committee at S&P Dow Jones Indices.

“All 20 cities saw prices higher than a year earlier with 10 enjoying larger annual gains than last month,” Blitzer continued. “The seasonally adjusted month-over-month data showed that home prices in 14 cities were higher in August than in July.”

Blitzer also noted that other housing data including sales of existing single-family homes, measures of housing affordability, and permits for new construction also point to a “reasonably healthy housing market.”

Additionally, the Case-Shiller report showed that before seasonal adjustment, the National Index posted a month-over-month gain of 0.5% in August.

The report also showed that both the 10-City Composite and the 20-City Composite posted a 0.4% increase in August.

After seasonal adjustment, the National Index recorded a 0.6% month-over-month increase, and both the 10-City Composite and the 20-City Composite reported 0.2% month-over-month increases.

 

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Case-Shiller: Rising house prices just below record highs

Consumer Confidence Rises | Bedford Corners Real Estate

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The Consumer Confidence Index, reported by the Conference Board, rose in September. Compared with last month, consumers were more optimistic about both the current situation and the near term outlook.

The Consumer Confidence Index rose to 104.1, from 101.8 in August. The present situation index rose to 128.5, from 125.3, and the expectations index increased to 87.8, from 86.1.

Consumers’ assessments of current business conditions were mixed. Assessments shifted from both “good” and “bad” to “normal”. The share of respondents rating business conditions “normal” rose by 4.9 percentage points from 51.5% to 56.4%. A net decline of 2.9 percentage points in assessments of “good” combined with a 2.0 percentage point net decline in assessments of “bad” for the total.

Similar to consumers’ assessments of current business conditions, expectations of business conditions over the next six months were mixed. The share of respondents expecting future business conditions to be the same rose from 71.0% to 73.3%. About half of the increase was the result of a net decline in respondents expecting future business conditions to be worse, an upgrade, while the rest was the result of a net decline in respondents expecting future business conditions to be better, a downgrade.

Consumers’ assessments of current employment conditions improved. The share of respondents reporting that jobs were “hard to get” dropped to 21.6%, from 22.8%. Most of the 1.2 percentage point decline (1.1 percentage point) upgraded to “jobs plentiful”.

Also, consumers’ expectations of employment over the next six months were more upbeat than in August. The share of respondents expecting “more jobs” rose to 15.1%, from 14.4%. Most of the 0.7 percentage point increase (0.5 percentage point) shifted from “fewer jobs”, while the rest shifted from “same jobs”.

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The Conference Board also reports the share of respondents planning to buy a home within six months. The share of respondents planning to buy a home declined to 5.1%, from 6.9%. The share of respondents planning to buy a newly constructed home and an existing home were 0.6% and 3.5%, respectively; the share of respondents who were “uncertain” whether they would buy a newly constructed or an existing home was 1.0%.

 

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http://eyeonhousing.org/2016/09/consumer-confidence-in-september-another-optimistic-month/

Case-Shiller up 5.1% | Mt Kisco Real Estate

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United States S&P Case-Shiller Home Price Index  

The S&P CoreLogic Case-Shiller 20-City Composite Home Price Index rose 5.1 percent year-on-year in August of 2016, following a 5 percent increase in July and above market expectations of 5 percent. Portland, Seattle and Denver reported the highest annual gains over each of the last seven months with prices up by 11.7 percent, 11.4 percent and 8.8 percent respectively in August. On a monthly basis, the S&P CoreLogic Case-Shiller 20-City Composite Home Price Index increased 0.4 percent, easing from a 0.6 percent rise in July. Case Shiller Home Price Index in the United States averaged 157.24 Index Points from 2000 until 2016, reaching an all time high of 206.52 Index Points in July of 2006 and a record low of 100 Index Points in January of 2000. Case Shiller Home Price Index in the United States is reported by the Standard & Poor’s.

United States S&P Case-Shiller Home Price Index
CalendarGMTReferenceActualPreviousConsensusForecast (i)
2016-09-2701:00 PMJul5%5.1%5.1%5.1%
2016-10-2501:00 PMAug5.1%5%5%5%
2016-10-2501:00 PMAug0.4%0.6%0.4%0.5%
2016-11-2402:00 PMSep0.4%
2016-11-2402:00 PMSep5.1%
2016-12-2902:00 PMOct

 

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http://www.tradingeconomics.com/united-states/case-shiller-home-price-index