Eye On Housing
Author Archives
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House Prices Remain Stable in October
House prices remained steady in October, with the Federal Housing Finance Agency (FHFA) reporting a slight 0.2% (SA) decrease in the monthly purchase-only house price index (HPI). This follows a revised 0.4% increase in September. Despite some minor month-over-month variability, the index has exhibited a slight upward trend since April. The decline following the expiry of the homebuyer tax credit… Read More ›
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Moderate Growth in Existing Home Sales in November ….. Benchmark Revisions Released
Existing home sales continued to grow at a moderate rate on a month-to-month basis in November and also improved upon their year ago level. The National Association of Realtors (NAR) reported sales of existing homes, completed transactions of single-family, townhomes, condominiums and co-ops rose 4.0% in November to a seasonally adjusted annual rate of 4.42 million. This follows a modest… Read More ›
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Real Rents Continued to Edge Up, but the CPI Was Unchanged in November
The Bureau of Labor Statistics (BLS) reported the Consumer Price Index for All Urban Consumers (CPI) was unchanged on a seasonally adjusted basis in November. Further easing in energy prices offset a slight increase in the food index and a modest gain in the core index (all items less food and energy). On a year-over-year basis the pace of growth… Read More ›
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Residential Building Material Prices Show Modest Decline in November, But Pressure is Building for Sharp Increase in the New Year
Producer prices bounced back in November after easing the previous month. The Bureau of Labor Statistics reported the producer price index for finished goods (PPI) advanced 0.3%, seasonally adjusted, in November on the back of a jump in food prices. Modest changes were observed for the energy and core indexes as both recorded a 0.1% increase. The finished goods index… Read More ›
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Pending Home Sales Bounced Back Strongly in October
Pending homes sales bounced back strongly in October, more than recovering the ground lost through declines over the past three months. The National Association of Realtors (NAR) announced a 10.4% increase in the Pending Home Sales Index (PHSI) in October, rising to 93.3. This follows a decrease of 4.6% in September and modest declines in July (1.2%) and August (1.3%)…. Read More ›
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House Prices Continue to Grow, with Modest Gains in the Third Quarter
House prices continued to improve in the third quarter, with both major indexes achieving modest gains. The Federal Housing Finance Agency’s purchase only house price index (HPI) rose 0.7% (NSA) and the Case-Shiller U.S. National HPI inched up 0.1% (NSA) from its second quarter level. While both indexes were lower than their third quarter 2010 level, the annual rates of… Read More ›
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Existing Home Sales Held Back By Increasing Contract Cancellations
Existing home sales continue to drift sideways, with a high rate of contract failures holding back a recovery. The National Association of Realtors reported a modest, 1.4% increase in existing home sales in October, creeping up to a seasonally adjusted annual rate of 4.97 million units. The increase recovers only part of the 3% decline in September. Although existing home… Read More ›
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Slower CPI Growth in October, But Real Rents Accelerate
The 16-month run of steady growth in the Consumer Price Index (CPI) months took a pause in October, registering only the second month-over-month decline since June of 2010. The October reading of the CPI for All Urban Consumers by the Bureau of Labor Statistics (BLS) revealed a 0.1% (SA) decrease. An easing in energy prices drove the decline in the… Read More ›
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PPI: Energy Prices Ease In October, But Most Residential Building Material Prices Shift Up
An easing in energy prices aided a decrease in the producer price index for finished goods (PPI) in October. The Bureau of Labor Statistics reported a seasonally adjusted 0.3% decline in the PPI in October, driven by a 1.4% (SA) decrease in the prices for finished energy goods. The index for finished goods has fluctuated in recent months, but has… Read More ›
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Sharp Rise in Gypsum Prices Likely in New Year
Gypsum production is heavily dependent on construction industries. Approximately 90% of gypsum is used in the manufacture of wallboard for residential and non-residential building applications. A further 5% is used as an additive in cement production. The steep decline in the residential and non-residential building sectors over the past five years has greatly affected gypsum demand. Consumption of gypsum fell… Read More ›