Eye On Housing
Author Archives
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More Good News on House Prices — Case-Shiller House Price Index Continues to Improve in May
House prices continued to improve in May with Standard and Poor’s reporting the second consecutive monthly increase in both Case-Shiller composite house price indexes (HPIs) in May. The Case-Shiller Composite 20 (CS20) gained 1.1% (NSA) and the Composite 10 (CS10) was up 1.0%. This follows a 0.6% increase in both indexes in April, which was the first monthly increase since… Read More ›
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House Prices Up Again in May
House prices firmed in May, confirming the end of an extended period of uninterrupted declines that spanned ten months. The Federal Housing Finance Agency (FHFA) reported a 0.4% increase in the monthly purchase-only house price index (HPI) in May up to a seasonally adjusted level of 181.8—their second consecutive monthly increase. While house prices are finally moving in the right… Read More ›
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Existing Home Sales Edge Down With Increasing Contract Cancellations
Another soft result for result for existing homes sales. The National Association of Realtors (NAR) reported sales of existing homes slipped a further 0.8% in June to a seasonally adjusted annual rate of 4.77 million, as contract cancellations spiked unexpectedly. Following very strong growth in the second half of 2010, existing home sales have lost momentum in 2011, as June’s… Read More ›
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Consumer Price Index Down in June
The steady rise of the Consumer Price Index (CPI) ended in June, ending an eleven-month run of gains that started last July. The Bureau of Labor Statistics (BLS) reported a 0.2% (SA) rate of decline in the CPI for All Urban Consumers in June. Over the last 12 months, the all-items index has increased 3.6% (NSA). Gasoline prices had been… Read More ›
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Producer Price Index Shifts Down as Energy Prices Ease (Finally!)
The Producer Price Index shifted down in June, as the recent decline in oil prices finally flowed through to producer prices. The Bureau of Labor Statistics release of the Producer Price Index (PPI) reported that the PPI for finished goods was 0.4% (SA) in June. Relief at last, following eleven consecutive monthly increases that have left the price index for… Read More ›
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Employment Growth Disappoints Again in June
After a promising start to the year, job numbers were abysmally weak for the second month in a row. The Employment Situation report from the Bureau of Labor Statistics revealed a meager 18,000 increase in total non-farm payroll employment, which comes on the heels of an equally disappointing 25,000 net increase in jobs during May (itself revised down from an… Read More ›
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Private Residential Construction Slips back in May
Private residential construction spending slid back in May, with the volatile home improvement sector again the driver of change. The Bureau of Census Construction Spending report revealed a 2.1% decrease in private residential construction spending in May, falling to a seasonally adjusted annual rate of $228.9 billion. Year-over-year, residential construction spending is down 6.6% from $245.2 billion in May 2010…. Read More ›
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Pending Home Sales Bounce Back in May, After Sharp Decline in April
Pending homes sales bounced back in May after registering a sharp decline in April. The National Association of Realtors (NAR) announced an 8.2% increase in the Pending Home Sales Index (PHSI) in May, rising to 88.8, from an upwardly revised 82.1 in April. While this marks a sizable month-to-month gain, it was not enough to offset the 11.3% loss in… Read More ›
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Case-Shiller House Price Index Ticks Up in April, Ending Its Eight Month Descent
House prices ticked up in April, finally ending the descent that extended over the past eight months. The release of the Standard & Poor’s Case-Shiller house price indexes (HPI) revealed a 0.7% (NSA) increase in the Composite 20 index (CS20) and 0.8% gain in the Composite 10 (CS10) index in April. While April’s increase is a welcome sign, the extended… Read More ›
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House Prices Finally Turn the Corner, Rising 0.8% in April
At last, some good news on the house price front! House prices finally turned the corner in April, after 10 consecutive months of decline. The Federal Housing Finance Agency (FHFA) reported a 0.8% increase in their monthly purchase-only house price index (HPI) in April, up to a seasonally adjusted level of 182.4. This signals an end to an extended period… Read More ›