Last week's economic reports included readings on Case-Shiller home prices, pending home sales and construction spending. Weekly readings on mortgage rates and new jobless claims were released, along with monthly labor-related reports on job creation and the national unemployment rate. Case-Shiller: Home Prices Maintain Rapid Growth S&P Case-Shiller home price indices for March showed home prices continued to grow at blazing rates. Seattle, Washington held on to first place with a seasonally-adjusted annual rate of 13.00 percent; Las Vegas, Nevada reported 12.40 percent growth in home prices in March. Analysts said Las Vegas markets benefitted from homebuyers relocating from high-priced … [Read more...]
Case-Shiller Home Price Growth Ticks Upward in November Reading
Home prices increased in November, with national home prices up 0.70 percent month-to-month and 6.20 percent higher year-over year. Case-Shiller's 20-City Home Price Index rose by 0.70 percent in the three-month period ending in November; nationally, home prices grew 6.20 percent year-over-year. Seattle, Washington held first place in home price growth with a year-over-year increase of 12.70 percent. Las Vegas, Nevada home prices followed with year-over-year home price growth of 10.60 percent. San Francisco, California home prices grew by 9.10 percent year-over-year. Slim supplies of homes for sale drove rising home prices and sidelined would-be borrowers as affordability remained out of … [Read more...]
What’s Ahead For Mortgage Rates This Week – February 5th, 2018
Last week's economic releases included readings on pending home sales, Case-Shiller Home Price Indices and construction spending. The Federal Open Market Committee of the Federal Reserve released its monthly statement and weekly readings on mortgage rates and new jobless claims were released. Last week's economic readings wrapped with a report on consumer confidence. Case-Shiller: Home Prices Rise in November Home prices rose an average of 0.70 percent monthly and 6.20 percent year-over-year according to Case-Shiller's national home price index for November. Seattle, Washington posted the highest year-over-year home price growth rate at 12.70 percent. Las Vegas, Nevada posted year-over-year … [Read more...]
Case-Shiller: Home Price Growth Expands to All Metro Areas
March home prices were again dominated by the Northwest with Portland, Oregon posting a year-over-year gain of 12.30 percent followed by Seattle, Washington's year-over-year gain of 10.80 percent. Denver, Colorado rounded out the top three cities with a year-over-year gain of 10.00 percent. San Francisco, California, which consistently posted double-digit gains in recent months slipped to a year-over-year gain of 8.50 percent. This may indicate that prices in high cost metro areas are nearing their peak. S&P Dow Jones Chair David M Blitzer attributed outsized price gains to the shortest supply of available homes since the mid-1980s. Homes for sale account for only two percent of U.S. … [Read more...]
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