BloggingStocks

Will Home Prices Keep Falling?

Connie Madon — Mon, 01 Nov 2010 13:00:00 EST

Filed under: Forecasts, Market Matters, Economic Data, Housing

Will home prices keep falling? The answer is yes. But why this is happening? The reason lies in high unemployment and the increased number of foreclosures.

Here are some analysts' views on the market, as reported by CNNMoney:

Fiserv, a market analytics company, had forecast price gains of 4% in February. Their latest prediction is for a 7.1% drop in prices.

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Will Home Prices Keep Falling? originally appeared on BloggingStocks on Mon, 01 Nov 2010 13:00:00 EST. Please see our terms for use of feeds.

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Case-Shiller Index Adds Bearish Momentum to the Market

Mark Fightmaster — Tue, 26 Oct 2010 11:00:00 EST

Filed under: Economic Data, Housing, Recession

Tuesday morning started off on a bearish note, which intensified after the latest news release from the S&P/Case-Shiller home price index. The index reported that home prices dropped 0.2% during August, which brought an end to four straight months of gains.

The Case-Shiller home price index was termed "disappointing" by those compiling the data. In 15 of the 20 metropolitan areas tracked by the index, home prices dropped compared to July. In addition, the data showed that annualized price growth slowed to 1.7% from July's 3.2%. The only cities that showed an increase in home prices were Chicago, Detroit, Las Vegas, New York and Washington D.C.

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Home Prices Log Third-Straight Monthly Increase

Mark Fightmaster — Tue, 31 Aug 2010 12:30:00 EST

Filed under: Economic Data, Housing

During June, home prices increased for the third-straight month, lending a bit of momentum to the bulls Tuesday morning. The problem is that the downward tide of the market was too much for this news to overcome, but taking this news in conjunction with other news could put a positive spin on the day.

The Standard & Poor's/Case-Shiller home price index posted a 1% increase in June compared to May. Comparing the number to a year ago, the index increased 4.2%. On a quarter-over-quarter basis, the second-quarter numbers were 4.8% better than the first quarter. Of the 20 cities surveyed, 17 saw monthly price increases -- Las Vegas was the only city where prices fell.

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Case-Shiller Index: Home Prices Have Increased

Mark Fightmaster — Tue, 27 Jul 2010 12:00:00 EST

Filed under: Economic Data, Housing

According to Standard & Poor's Case-Shiller home price index, prices for single-family homes in 20 major cities increased a seasonally unadjusted 1.3% in May.

According to the report, prices have increased 4.6% during the past year. Compared to April, prices increased in 19 of the 20 metro areas that the index tracks. The last month's increase was the second-straight following six monthly declines.

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Case-Shiller Index: Home Prices Have Increased originally appeared on BloggingStocks on Tue, 27 Jul 2010 12:00:00 EST. Please see our terms for use of feeds.

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Home Prices Edge Higher in April, Driven by Tax Credits

Mark Fightmaster — Tue, 29 Jun 2010 12:40:00 EST

Filed under: Economic Data, Housing

According to the Standard & Poor's/Case-Shiller home price index, home prices in the 20 cities surveyed saw an increase for the first time in seven months. The 0.8% gain was driven by the government tax credits, which have since expired.

Therein lies the problem: the gains were propelled by government incentives, and said incentives have gone by the wayside. Will we see the gains come back to the pack since the government has stopped spending to make us spend? You can bet on it.

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Housing Market Slides, but Some Silver Lining Visible

Tom Johansmeyer — Wed, 27 Jan 2010 08:00:00 EST

Filed under: Indices, Housing, Recession

Home prices fell yet again in November, losing 0.2% month-over-month (on a not seasonally adjusted basis), following a 0.1% drop in October. The Standard & Poor's/Case-Shiller's home price index reported only five out of 20 metro areas with gains, and from November 2008 to November 2009, home prices are off 5.3%. Need a benchmark? It's late 2003: Six years of appreciation have been obliterated by the financial crisis.

The slide worries analysts who wonder if the housing recovery is strong enough to keep moving forward. A stall on the housing side, of course, could push through the rest of the economy, ultimately putting the squeeze on consumer spending (further) and impeding overall growth.

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Housing Market Slides, but Some Silver Lining Visible originally appeared on BloggingStocks on Wed, 27 Jan 2010 08:00:00 EST. Please see our terms for use of feeds.

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In the new era, old home price trend may not be the new home price trend

Joseph Lazzaro — Fri, 11 Dec 2009 16:20:00 EST

Filed under: Forecasts, Indices, Housing

Over generations, one truism of the U.S. housing market has been that mid-level home prices recover first, prior to the luxury market or upscale homes.

And the logic implied in the above is obvious enough: there are more Americans in the middle-income market, hence there's a wider pool of eligible buyers, once these prospective buyers sense the time is right to purchase. The luxury market, because its drawing pool is so small, and niche-oriented, historically recovered later.

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Closing Bell: The recession is still over, still... do you feel it?

Jon Ogg — Tue, 24 Nov 2009 16:20:00 EST

The GDP for Q3 showed a revision confirming that the end of the recession is still 'unofficially' official. The Case Shiller data was more mixed despite another small gain, but it has a farther look-back than most new data has been showing.

And the FOMC released its minutes from the November 3 and 4 meeting that gave low inflation forecasts, higher GDP, and even less-bad unemployment. The FDIC fund going red had no solid impact on financials today. We even had a 2% drop in the price of oil despite a small gain in gold. Here were today's unofficial index closing bell levels:

DJIA 10,433.71 (-17.24)
NASDAQ 2,169.18 (-6.83)
S&P500 1,105.66 (-0.58)

Top 10 Analyst Calls
Top Day Trader Alerts

Closing Bell: The recession is still over, still... do you feel it? originally appeared on BloggingStocks on Tue, 24 Nov 2009 16:20:00 EST. Please see our terms for use of feeds.

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Home prices plunge record 18.2% in the past year, Case-Shiller says

Joseph Lazzaro — Tue, 27 Jan 2009 09:45:00 EST

Filed under: Forecasts, Bad News, Housing, Recession

Once again, there's little change in the U.S. housing market's downward trend.

Home prices in the United States in 20 cities declined at the fastest pace ever in the past year, weighed down by foreclosures, and slack demand from potential home buyers.

Home prices in a 20-city sample plunged a record 18.2% in November 2008, on a year-over-year basis in, according to the S&P / Case-Shiller U.S. National Home Price survey (pdf). The index has fallen every month since January 2007. Home prices fell 18% in October, 17.4% in September, and 16.6% in August, each on a year-over-year basis.

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Home prices nosedive a record 18% in the past year, Case-Shiller says

Joseph Lazzaro — Tue, 30 Dec 2008 13:15:00 EST

Filed under: Forecasts, Bad News, Housing, Recession

The song remains the same regarding the U.S. housing sector.

Home prices in the United States in 20 cities declined at the fastest pace ever, weighed down by foreclosures and bank efforts to unload that extra housing.

Home prices in a 20-city sample plunged a record 18.0% in October, on a year-over-year basis, according to the S&P / Case-Shiller U.S. National Home Price survey (pdf). The index has fallen every month since January 2007. Home prices fell 17.4% in September, and 16.6% in August, each on a year-over-year basis.

All 20 cities drop

Also, every city in the 20-city index registered a decrease in October, on a year-over-year basis.

Further, prices in a 10-city survey plummeted a record 19.1% on a year-over-year basis.

Continue reading Home prices nosedive a record 18% in the past year, Case-Shiller says

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The best housing stance for buyers, sellers? Staying put

Joseph Lazzaro — Wed, 27 Aug 2008 14:00:00 EST

Filed under: Forecasts, Economic Data, Housing, Recession

There is an old axiom among lobbyists inside Washington, D.C.'s Beltway that goes: "Don't just do something, stand there!"

It's a policy wonk truism arguing that when uncertainty abounds, sometimes the best action is no action. And, one could argue, today's potential home buyers and sellers would be wise to heed the Beltway axiom.

A case of the Case-Shiller jitters

Economist Peter Dawson was hoping for Case-Shiller house price statistics in July that were easier on the eye. Dawson was disappointed: the Case-Shiller Index of 20 major metropolitan areas plunged 15.9% from July 2007 (pdf). Prices in the 10-city index plummeted a record 17.0% from July 2007.

"The July Case-Shiller data is about as bad as it gets. It shows a housing sector where prices remain in free-fall in just about every market, save a few, such as Charlotte, North Carolina and Dallas," Dawson said. "The housing bottom has not occurred and it's not near."

So given the above, what's the best stance regarding housing? For sellers, Dawson said if one has to sell for a job relocation, a sale invariably has to occur. But for those who have a three-year or longer sales horizon, postponing a sale may net a better price, providing the U.S economy recovers in 2009, he said.

For buyers, Dawson said "time is on the buyer's side" in most markets. "At this stage, lease or rent through at least June 2009," Dawson said. "In most major markets, prices are likely to be lower by next spring than they are today."

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Home prices fall 15.3% in April in metro areas: Case-Shiller

Joseph Lazzaro — Tue, 24 Jun 2008 10:22:00 EST

Filed under: Forecasts, Bad News, Economic Data, Housing, Recession

The decline in U.S. home values continues to accelerate, and the U.S. housing sector is showing few signs of a recovery.

Home prices in a 20-city sample plunged 15.3% in April, on a year-over-year basis, according to the S&P / Case-Shiller U.S. National Home Price survey. In March, prices in the 20-city sample declined 14.4%.

Economists surveyed by Bloomberg News had expected home prices in the 20-city Case-Shiller survey to decline 16.0% in April on a year-over-year basis.

Economist Peter Dawson said that while he doesn't expect this latest housing data point to sway the U.S. Federal Reserve regarding interest rates ahead of its Wednesday 2:15 p.m. EDT announcement, the continued housing price decline will highlight the headwinds facing the U.S. economy. "The house price declines will underscore to the Fed that while oil is feeding inflation, significant economic drags remain, and housing is the biggest drag, so the Fed has to be concerned about the potential for a pronounced economic stall," Dawson said. "They have to be careful to not raise interest rates too quickly and choke-off a recovery."

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Home prices fall 7.7% in past year, according to Case-Shiller Index

Joseph Lazzaro — Tue, 29 Jan 2008 13:33:00 EST

Filed under: Bad News, Economic Data, Housing, Recession

Home price depreciation accelerated in November, with prices falling in all 20 cities surveyed by the Case-Shiller Home Price Index, survey officials announced [pdf] Tuesday.

Prices fell a record 2.2% in November 2007, and 7.7% in the past year. Just as ominous, home prices fell in all 20 cities in November 2007, and prices in the last three months fell at a 16.2% annual rate. In addition, the survey's original 10-city index fell 8.4% in the past year.

Miami recorded the largest price decline, down 15.1%; followed by San Diego, down 13.4%; Las Vegas, down 13.2%; and Detroit, down 13%.

A tell-tale stat

Economist Steve Affinito told BloggingStocks Tuesday the Case-Shiller data is yet another tell-tale statistic regarding the condition of the U.S. housing sector.

Continue reading Home prices fall 7.7% in past year, according to Case-Shiller Index

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U.S. home prices drop 6.1% in past 12 months

Joseph Lazzaro — Wed, 26 Dec 2007 12:15:00 EST

Filed under: Bad News, Economic Data, Housing

Home prices fell 6.1% in the past 12 months -- the largest 12-month decline in at least six years, and a sign that the housing market remains in a pronounced slump, research from the S&P/Case-Shiller home price index indicated Wednesday. In the survey, all 20 metropolitan markets surveyed showed year-over-year price declines.

Analyst C. Leonard Bauer, formerly of Prudential, told BloggingStocks on Wednesday that the October 2007 Case-Shiller data confirms some of the worst fears analysts have about the U.S. housing market heading into 2008.

"This is a sobering statistic," Bauer said. "It confirms a housing market in a deep slump. This is the worst year-over-year decline in prices that I've seen nationally, and I've been following housing for 20 years. The northeast [U.S.] condo slump in the early 1990s saw bigger percentage drops but that was only one section of the market. This is across the board."

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