Tag Archives: Housing Prices

House prices increase for third straight month, but Case Shiller index now negative YoY  – by New Deal democrat Seasonally adjusted house prices through April as measured by both the FHFA (red in the graph below) and Case Shiller (blue) Indexes rose, the former by 0.7% and the latter by 0.5%. This is the third straight increase in a row. Thus house prices have probably bottomed. But on a YoY basis, prices have continued to decelerate sharply,...

House prices may have bottomed, while YoY price increases (leading inflation) have declined to lower than their 25-year average  – by New Deal democrat Seasonally adjusted house prices through March as measured by both the FHFA (light blue in the graphs below) and Case Shiller (dark blue) Indexes rose, the former by 0.7% and the latter by 0.2%. This is the second straight increase in a row, and suggests that house prices may have bottomed:...

House price indexes for November: up like a rocket, down like a feather  – by New Deal democrat As I’ve repeated many times in the past 10 years, in housing prices follow sales with a lag. Housing permits peaked at the beginning of 2022, and starts followed several months later.  This morning the FHFA and Case Shiller house price indexes for November showed continued declines from their seasonally adjusted June 2022 peak, and also continued...

– by New Deal democrat House price indexes continue to show the top is in The FHFA and Case Shiller house price indexes were reported this morning, with both continuing to show that the peak in house prices took place during the summer. For the month, the seasonally adjusted FHFA index rose +0.1%, vs. a +0.9% increase one year ago, and following two months of -0.6% and -0.7%, respectively. The Case Shiller national index declined -0.5%,...

When will housing construction turn down? A fuller consideration  – by New Deal democrat No important economic news today. Also I am traveling this week, so there might be some light posting, as in, I might skip a day or two. But I very much want to see what is happening with house prices, which will be updated tomorrow in the FHFA and Case Shiller indexes, and Wednesday as part of the new home sales release. In the meantime, after I posted...

House price increases still strong, but clear deceleration from peak The Case Shiller and FHFA house price indexes were reporting this morning, covering the period through December. As you all know well, my mantra is that interest rates lead sales, and sales in turn lead prices. Here’s this month’s update. The monthly increase in the Case Shiller national index (violet) was 0.92%, and the YoY% increase was 18.3%. This is the 4th month of...

New home sales surge, while house price measures decelerate; expect deceleration or even downturns in each Since I didn’t post yesterday, let me catch up today with a note on both new home sales and prices.New home sales (blue in the graph below) for December rose sharply to 811,000 on an annualized basis. This is the higher monthly number since March, and while it is well above the trend since the Great Recession, it is still well below its...

House price increases continue to show strong market at the end The last housing market data for 2021, the FHFA and Case Shiller house price indexes, were reported this morning. Both showed a very slight deceleration in the soaring prices that have marked this year. The FHFA purchase-only index rose 1.1% for October. The YoY% increase was 17.4%, down from the 19.3% YoY peak in July. Meanwhile the Case Shiller national index rose 0.8% m/m, and...

House prices continue to surge. But maybe . . . Both the FHFA and Case-Shiller house price indexes for July were released this morning. Both showed a continued surge in house prices, with one difference that may be of importance. First, here are both indexes normed to 100 as of January 1991, when the FHFA index began: Both are currently within 2% of an identical 250% increase since then. Further, YoY gains in both continued to...