27
Sep
By Jim Hasek
Housing Market

Case-Shiller: Home Prices Higher in July, Home Prices May Have Peaked

Case-Shiller reported higher sales of new homes for July; the national reading for new home sales increased by 0.10 percent to a seasonally-adjusted annual rate of 5.90 percent. The 20-City Home Price Index rose by 0.20 percent to 5.80 percent on a seasonally adjusted annual basis. Seattle Washington held the top spot in the 20-City Index with a growth of 13.50 percent year-over-year. Seattle home prices are growing faster than home prices in Portland Oregon, which reported a year-over-home price growth rate of 7,60 percent. Dallas, Texas lost its third-place standing in the 20-City Index to Las Vegas, Nevada, which…
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20
Sep
By Jim Hasek
Housing Analysis

NAHB: Builder Confidence Dips on Hurricane Damage

Home builders had less confidence in housing market conditions in September. In the aftermath of Hurricanes Harvey and Irma, builders worried that ongoing shortages of construction labor and materials would worsen.  NAHB Chairman Granger MacDonald said that concerns over labor and building materials were "intensified," but said that builder confidence was expected to return to high readings once rebuilding is underway. The National Association of Home Builders Housing Market Index dropped three points to an index reading of 64 with all three component readings lower than they were in August. Builder confidence in current market conditions for new single-family homes…
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16
Jun
By Jim Hasek
Housing Market

NAHB Housing Market Index Slips Two Points in June

The National Association of Home Builders Housing Market Index for June fell by two points to 67 after a revision of May's reading. Components of the Housing Market Index were lower for June with builder confidence in current market conditions two points lower at 73; June's reading for builder confidence in market conditions for the next six months also fell two points to 76. Builder confidence in buyer traffic fell two points to 49. According to the Index, any reading over 50 indicates that more builders are confident than those who are not. Labor and Lot Shortages Continue to Stifle…
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19
Apr
By Jim Hasek
Mortgage Rates

NAHB: Builder Sentiment Dips in April

According to the National Association of Home Builders Housing Market Index for April, Builder Confidence dropped three points to an index reading of 68 in April. While any reading over 50 indicates positive builder confidence, home builders said that they continue to face obstacles including higher costs for materials and elevated costs associated with regulatory issues. Builders have repeatedly cited concerns including a lack of buildable lots and labor shortages in past months. Home Builder Component Readings Fall But Remain in Positive Territory Component readings of the Housing Market Index include builder confidence in current market conditions for newly built…
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01
Dec
By Jim Hasek
Housing Market

Case-Shiller: Home Price Growth Mixed for September

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. Case-Shiller's National Home Price Index achieved its highest gain with a reading of 5.50 percent as compared…
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19
Oct
By Jim Hasek
Housing Market

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. Component readings for October's housing market index were mixed; the reading for builder confidence in market conditions over the next six months rose one point to 72. Builder confidence in current housing market conditions fell two points to 69. Builder outlook for buyer traffic in new home developments over the next six months fell by one point to an index reading of…
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