02 Mar 2023
By John Cofiell

S&P Case-Shiller: December Home Price Growth Slows

Financial Reports , ,
Home price growth slowed in December according to the S&P Case-Shiller 20-City Home Price Index. Year-over-year home prices rose by 4.6 percent in December as compared to November’s reading of 6.8 percent growth. Rising mortgage rates caused home prices to dip as potential buyers delayed home purchases and demand for homes fell. Craig J. Lazzara, managing director of S&P Dow Jones Indices, said: “The prospect of stable, or higher mortgage rates means that mortgage financing remains a headwind for home prices, while economic weakness, including the possibility of a recession, may also constrain potential buyers. Mr. Lazzara concluded: “Given these…
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28 Jul 2022
By John Cofiell

S&P Case-Shiller Home Price Indices: National Home Price Growth Slows in May

Housing Market , ,
U.S. home prices rose in May, but at a slower pace. S&P Case-Shiller’s National Home Price index reported year-over-year home price growth of 19.70 percent in May as compared to April’s record year-over-year home price growth pace of 20.60 percent. Tampa, Florida led the 20-City Index with year-over-year home price growth of 36.1 percent; Miami, Florida followed with year-over-year home price growth of 34.0  percent. Dallas, Texas reported year-over-year home price growth of 30.8 percent. Minneapolis, Minnesota, Chicago, Illinois, and Washington, D.C. had the lowest rates of home price growth, but no cities in the 20-City Home Price Index reported…
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28 Jul 2022
By John Cofiell

S&P Case-Shiller Home Price Indices: National Home Price Growth Slows in May

Housing Market , ,
U.S. home prices rose in May, but at a slower pace. S&P Case-Shiller’s National Home Price index reported year-over-year home price growth of 19.70 percent in May as compared to April’s record year-over-year home price growth pace of 20.60 percent. Tampa, Florida led the 20-City Index with year-over-year home price growth of 36.1 percent; Miami, Florida followed with year-over-year home price growth of 34.0  percent. Dallas, Texas reported year-over-year home price growth of 30.8 percent. Minneapolis, Minnesota, Chicago, Illinois, and Washington, D.C. had the lowest rates of home price growth, but no cities in the 20-City Home Price Index reported…
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28 Jul 2022
By John Cofiell

S&P Case-Shiller Home Price Indices: National Home Price Growth Slows in May

Housing Market , ,
U.S. home prices rose in May, but at a slower pace. S&P Case-Shiller’s National Home Price index reported year-over-year home price growth of 19.70 percent in May as compared to April’s record year-over-year home price growth pace of 20.60 percent. Tampa, Florida led the 20-City Index with year-over-year home price growth of 36.1 percent; Miami, Florida followed with year-over-year home price growth of 34.0  percent. Dallas, Texas reported year-over-year home price growth of 30.8 percent. Minneapolis, Minnesota, Chicago, Illinois, and Washington, D.C. had the lowest rates of home price growth, but no cities in the 20-City Home Price Index reported…
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09 May 2022
By John Cofiell

What’s Ahead For Mortgage Rates This Week – May 9, 2022

Financial Reports , ,
Last week’s scheduled economic reports included readings on construction spending, the Federal Reserve’s Federal Open Market Committee statement, and the Fed Chair’s press conference. Readings on public and private-sector jobs growth and the national unemployment rate were released along with weekly readings on mortgage rates and jobless claims. Construction Spending Slows in March, Fed Raises Key Rate Construction spending fell in March according to the Commerce Department. Spending increased by 0.10 percent as compared to the expected reading of 0.80 percent and February’s reading of 0.50 percent. Less construction spending could indicate a slowdown in building as builders face rising…
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29 Jul 2021
By John Cofiell

S&P Case-Schiller Indices Report Record Rise in Home Prices

Financial Reports , ,
Home prices continued to rise at record rates in May according to S&P Case-Shiller Home Price Indices. National home prices rose by 16.60 percent year-over-year in May as compared to 14.80 percent year-over-year price growth in April. The 10-City Home Price Index reported home prices rose 16.40 percent year-over-year and 1.90 percent month-to-month. 20-City Home Price Index Reports 17 Percent Home Price Growth Year-Over-Year S&P Case-Shiller’s 20-City Home Price Index reported month-to-month home price growth of two percent in May as year-over-year home price gains rose from April’s reading of 15 percent to 17 percent year-over-year home price growth. All…
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24 Feb 2021
By John Cofiell

Case-Shiller Reports Home Prices Rise at Fastest Pace in 7 Years

Financial Reports , ,
S & P Case-Shiller Home Price Indices reported the fastest pace of U.S home price growth in seven years. National home prices grew by 10.40 percent year-over-year in December as compared to November’s reading of  9.50 percent home price growth on a year-over-year basis. The S&P Case-Shiller 20-City Home Price Index reported home price growth in 18 of 20 cities included in the index. Detroit, Michigan did not report home price data for December. Phoenix, Arizona held the top position in the 20-City Index for the 19th consecutive month with year-over-year home price growth averaging 14.40 percent. Home prices in…
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05 Oct 2020
By John Cofiell

What’s Ahead For Mortgage Rates This Week – October 5, 2020

Financial Reports , ,
Last week’s economic news included readings from Case-Shiller Home Price Indices, along with Commerce Department readings on public and private-sector job growth and the University of Michigan’s Consumer Sentiment Index. Weekly reports on jobless claims and mortgage rates were also released. Case-Shiller: Home Price Growth Ramps Up as Demand for Homes Increases July home prices rose at a year-over-year rate of 4.80 percent in July as compared to June’s reading of 4.40 percent. Shortages of available homes were driven by demand. Homebuyers were looking for larger homes to accommodate working from home and also wanted to leave congested urban areas.…
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