Author Archives

  • Consumer Confidence continues to grow

    The Conference Board’s Consumer Confidence Index continued to improve in February, increasing 5.6 points to 70.4.  The index has grown strongly over the past five months from its recent low of 48.6 in September. The improvement has been driven mainly by robust growth in the future expectations index, which rose 7.8 points to 95.1 in February. The present situation index… Read More ›

  • House prices remain weak in December

    The release of the Standard and Poor’s Case-Shiller Home Price Index (HPI) for December and fourth quarter of 2010 indicates that house prices continued to drift down, despite the improving economic environment.  The National House Price Index declined by 3.9% (NSA) in the fourth quarter and is down 4.1% from the fourth quarter 2009.  The Composite 10 (CS10) and the… Read More ›

  • Consumer Confidence improves with the new year

    Consumer confidence improved with the beginning of the 2011, raising hopes for a better year ahead.  The January reading of the Conference Board Index of Consumer Confidence Index indicated a sharp improvement in confidence, with the index rising 7.3 points to 60.6. This returns the index to a level last seen in May 2010, before the economy hit a soft… Read More ›

  • Mixed results for House Price Indexes in November …. but keep an eye on the Big Picture

    The headline house price indexes were down in November, but across the regions results were mixed. The FHFA house price index was down 0.42% on a not seasonally adjusted basis (NSA) in November (but up slightly–0.02%–on a seasonally adjusted basis), while the Standard & Poor’s Case-Shiller House Price Indexes (HPIs) were down 1.0% to 143.9 for the Composite 20 (CS20)… Read More ›

  • Existing Home Sales Surge in December

    Existing homes sales surged in December, continuing their upward trend with the fourth rise in the past five months.  The National Association of Realtors (NAR) reported a 12.3% increase to 5.28 million (seasonally adjusted annual rate) in December, building on the 6.1% increase in November. Overall, from the low of 3.84 million units in July, existing home sales have gained… Read More ›

  • Recovery in Home Sales Continues in November

    Pending homes sales continued its upward trend in November, following strong growth October. The National Association of Realtors (NAR) announced a 3.5% increase in its Pending Home Sales Index (PHSI) in November to 92.2, following growth of 10.1% in October.  The index has now shown solid gains in four of the past five months, rising 22% from its low of… Read More ›

  • October Case-Shiller House Price Index down ….. but take a closer look.

    The Standard & Poor’s Case-Shiller house price index (HPI) continued to decline in October, with the Composite 20 index (CS20) falling 1.3% (not seasonally adjusted) and the Composite 10 (CS10) index down 1.2% (NSA). (As noted in the past, when observing the Case-Shiller HPI attention should be focused on the NSA numbers.) This is the third consecutive month of decline…. Read More ›

  • Existing Home Sales Return to Upward Trend in November

    Existing homes sales have returned to their strong upward trend in November, after a pause in October.  The National Association of Realtors (NAR) reported a 5.6% increase to 4.68 million (seasonally adjusted annual rate – SAAR) in November, following a 2.2% decline in October. This returns home sales the recovery path begun with strong gains in August and September. Overall,… Read More ›

  • House Prices tick up in October

    House prices turned the corner in October, registering their first increase in four months, according to the Federal Housing Finance Agency (FHFA) with the release of their monthly purchase-only house price index (HPI).  Overall, house prices were up 0.7% on a seasonally adjusted basis, following a 1.2% decline in September.  The FHFA HPI release includes the monthly price changes for… Read More ›

  • The Recovery in Existing Home sales stalls in October

    The housing market is in for an uneven recovery, with existing home sales slowing in October after two months of strong gains. The National Association of Realtors (NAR) reported a 2.2% decrease in existing home sales in October following gains of 10% in September and 7.6% in August. Existing home sales dropped to 4.43 million, from 4.53 in September. Year-over-year,… Read More ›