Author Archives

  • Weak consumer confidence restraining housing demand

    Consumer confidence remained weak in August, with the Thompson Reuters release of the University of Michigan Consumer Sentiment survey inching up only slightly (1.1 points) to 68.9.  This follows a sharp (8.2 point) downturn in July, with the slowing economy and high unemployment rate leaving consumers uncertain about the future. While consumers were feeling a little more comfortable in their… Read More ›

  • House prices remain stable in June

      FHFA HPI The Federal Housing Finance Agency (FHFA) release of their monthly purchase-only house price index (HPI) shows house prices remaining relatively stable (marginal decrease of 0.26%) at an index value of 195.2 (seasonally adjusted) in June, while the quarterly index showed an increase of 0.9% to 194.3 (SA). Following a steep decline in 2007 and 2008, prices have… Read More ›

  • End of Home Buyer Tax Credit Still Being Felt

    The home buyer tax credit is now clearly in the rear view mirror. The National Association of Realtors (NAR) release of existing home sales shows a sharp downturn in July, falling 27.2% to a seasonally adjusted annual rate of 3.83 million units in July from a downwardly revised 5.26 million units in June.  A decline of this magnitude was predicted… Read More ›