The National Association of Home Builders Housing Market Index for June fell by two points to 67 after a revision of May’s reading. Components of the Housing Market Index were lower for June with builder confidence in current market conditions two points lower at 73; June’s reading for builder confidence in market conditions for the next six months also fell two points to 76. Builder confidence in buyer traffic fell two points to 49. According to the Index, any reading over 50 indicates that more builders are confident than those who are not.
Case-Shiller: December Home Prices Highest in More Than Two Years
December home prices continued to rise per December readings for Case-Shiller’s National and 20-City Home Price Indices. On average, national home prices increased by 5,80 percent year-over-year and exceeded November’s year-over-year reading of 5.60 percent. The 20 City Index, which analysts follow more closely than the National Home Price Index, posted a year-over-year gain of 5.60 percent in December, which exceeded an expected reading of 5.40 percent and November’s year-over-year reading of 5.20 percent growth.
Case-Shiller: Home Price Growth Continues
Home increased in October according to Case-Shiller’s 20City Home Price Index. Home prices rose from September’s annualized reading of 5.40 percent to 5.60 percent. Factors contributing to rising home prices include stronger economic conditions and outlook along with short inventories of available homes coupled with high demand. On average, October home prices rose 5.10 percent on seasonally adjusted annual basis, which was unchanged from September’s reading.
Case-Shiller: Home Price Growth Mixed for September
September’s 20-City Housing Market Index from Case-Shiller showed signs that rapidly rising home prices in some metro areas may be losing momentum. San Francisco, California, posted a month-to-month reading of -0.40 percent and a year-over-year reading of 5.70 percent. Home prices stayed flat in Seattle Washington from August to September, but posted the highest home price gain of 11.00 percent year-over-year. Slowing home price growth in high-demand areas suggest that affordability concerns are impacting rapid gains in home prices seen in recent years.
