|
|
Posts Tagged ‘Standard & Poor’s’
Tuesday, October 27th, 2009
 In the Case-Schiller report data released this morning, US home prices continue to show improvement in August. The Standard & Poor’s/Case-Schiller index showed a seasonally-adjusted 1 percent improvement in August over the previous month. 16 of the 20 cities in the index saw their prices rise. Only four–Cleveland, Las Vegas, Charlotte, and Seattle–saw their home prices decline.
While the numbers are still down compared to last year, the continued upward trend is a nice change from last winter, when all cities saw their prices decline for several months on end. Many believe that the housing market is now turning around. However, the prices are down significantly. The average price today is equivalent to 2003 levels. In Detroit, they are at the same levels they were at in 1995. Compared to last August, prices are down 11.3 percent. As a result, many of the problems we have seen recently in regards to underwater homeowners and foreclosures seem likely to continue in the near future. As the New York Times said, in many places, it’s as if the housing boom never happened.
Tags: Case-, Case-Schiller, case-schiller index, cities, home prices, housing market, real estate, Standard & Poor's, The New York Times, US
Posted in Consumer News, Industry News | No Comments »
Friday, August 28th, 2009
 There was some good news for the housing market this week. New home sales increased more than expected in July, up 9.6 percent from June, and at the highest levels since September of 2008. Sales were up to 433,000 versus the 395,000 adjusted figure from June. Analysts, meanwhile, were only expecting sales to increase to 390,000 from the originally reported 384,000 in June. However, new home sales are still down 13.4% from a year ago. Most of the increase appears to be attributed to the Northeast, with a 32.4% increase in July, and the South, with a 16.2% increase.
The Standard & Poor’s Case-Schiller index posted its first quarter over quarter increase in three years, rising 2.9 percent in the second quarter compared to the first. The price index fell 15.4% in June, compared to a revised 17% drop in May, indicating that the rate of decline in home prices appears to be slowing.
Tags: case-schiller index, good news, home price, home prices, housing, housing market, new home sales, Standard & Poor's
Posted in Industry News | No Comments »
Tuesday, July 28th, 2009
 The Case-Shiller Index from January 2000 - January 2009 shows the housing bubble well. Many believe the worst is now over. The Case-Shiller index for May indicates that the housing market may have hit bottom in April. Home prices continued their upturn in May, with prices down only 17.1% from last year, versus 18.1% in April. Prices also increased in May versus April by a half a percentage point, the first positive monthly return on the index in three years! However, when adjusted for seasonality, the prices show a slight drop.
Nonetheless, the positive message from the data is clear. While in February we reported that all 20 metropolitan areas on the Case-Shiller index had experienced a price decline from the previous month, this month, only 5 of them did: Las Vegas, Phoenix, Miami, Seattle, and Los Angeles.
Despite the decreasing rate of decline, analysts still don’t expect the market to stabilize much less prices to rise until late next year at the earliest. However, the market has exceeded expectations recently- maybe it will rebound sooner as well.
Tags: Case-Shiller Index, housing market, housing price, housing prices, Las Vegas, Los Angles, Miami, Phoenix, real estate, Seattle, Standard & Poor's
Posted in Consumer News, Industry News | No Comments »
|
