Housing Market: S&P Case-Shiller Home Price Index Increases 0.5% In June 2012; Prices Return To Summer 2003 Levels

28 08 2012

Housing Market: Latest Data Shows Home Prices Increasing Annually Year-Over-Year For First Time Since 2007

27 08 2012

According to the FHFA data, the first and second quarter of this year delivered the first year-over-year increase in the seasonally adjusted purchase-only house price index ()HPI)( since the first and second quarters of 2007. The second quarter registered a 1.3% inflation-adjusted price increase. Forty-three states experienced price increases. The two FHFA charts below show a distinct stabilization in prices. The chart of price changes shows an encouraging pattern of higher highs and higher lows that signifies a sustained trend upward from the bottom. The price index indicates downward momentum came to a screeching halt last yearת with 2012 building off that base.

For more:  http://seekingalpha.com/article/828731-latest-housing-price-data-confirm-housing-bottom-is-underway

U.S. Home Prices Show 2.2% Monthly Increase In May 2012 According To S&P/Case-Shiller Index; No Major Metro Areas Post New Lows

3 08 2012

The S&P/Case-Shiller home price index was released Wednesday, showing month over month strength and lower year over year weakness. Less weakness is strength in the housing market.

Among the datapoints released were (data and charts from S&P/Case-Shiller):

  • Average home prices increased by 2.2% in May over April for both the 10- and 20-City Composites.
  • Home prices fell annually by 1.0% for the 10-City Composite and by 0.7% for the 20-City Composite versus May 2011.
  • All 20 cities and both Composites posted positive monthly returns. No cities posted new lows in May 2012.

Morgan Stanley Housing Report Sees Restrictive Lending Limiting Owner-Occupied Purchases, Rental Costs Rising As Home “Effective Home Ownership Rate” May Drop Below 60%

8 08 2011
  • There are about 2.2 million vacant homes available for sale in the U.S.
  • 7.5 million homes are facing foreclosure that would add to the excess housing supply
  • This will continue to cause home values to drop further
  • The homeownership rate fell to 65.9 percent as of June 30, the lowest level in 13 years
  • Home ownership peaked at 69.2 percent in June 2004, the Commerce Department reported July 29
  • The effective homeownership rate would drop below 60 percent if delinquent buyers who are expected to lose their houses to foreclosure are removed from the total
  • “Mortgage credit remains tight, making home purchases more difficult, while rental demand is accelerating, causing rents to rise quickly,”
  • “If nothing is done soon, we will find ourselves in a situation where owner-occupied housing becomes unobtainable due to lack of credit, while rental housing becomes unobtainable due to rising costs.”

For more:  http://www.bloomberg.com/news/2011-08-08/bulk-buying-would-ease-u-s-housing-crisis-morgan-stanley-analysts-say.html

Home Prices Will Not Have A Sustained Rebound Until “Long-Term” Unemployment Rates Move Lower

18 07 2011

U.S. Housing Prices: S&P/Case-Shiller Home Price Index For Major Metropolitan Areas (April 2011)

12 07 2011


Home Price Expectations: June 2011 Fannie Mae Housing Survey Finds Most Americans Feel Home Prices Will Fall 0.5% In Next 12 Months; Mortgage Rates Expected To Be Steady

11 07 2011