Late Spring For Housing

Housing starts surged in April with strong gains in single family homes as well as two to four unit and five or more unit buildings. Construction of single family homes has been lagging in recent years. If the gains are confirmed by next month’s numbers, maybe housing will finally have a late spring season.  Sales of existing homes are back to almost normal levels of about five million sales annually.  Sales of new homes continue to lag.

Prices of existing homes have been rising at about a 4%-5% annual rate in recent months.  Whether will pace can be sustained could be revealed in the next S&P/Case-Shiller Home Price Index release on Tuesday, May 26th at 9 AM.

The charts show recent developments in housing. Click on a chart for a larger image.

National Credit Default Rates Reach Historical Lows in April 2015 According to the S&P/Experian Consumer Credit Default Indices

S&P Dow Jones Indices released the latest results for the S&P/Experian Consumer Credit Default Indices. Data is through April 2015. S&P/Experian Consumer Credit Default Indices Press Release – May 2015

Will Millennials start buying homes?

Perhaps the best reflection of the economic pressures Millennials face can be seen in the U.S. housing market. The pace of household formation and the rate at which Millennials head their own households is declining. In fact, detailed data show that the drop in homeownership during the financial crisis was the largest for people ages […]

Why millennials and the Depression-era generation are more similar than you think

Both generations grew up amid a major financial crisis, making them less willing to spend and more likely to save. What sets them a part, though, is the burden of student loans. Millennials have a bad rap. We imagine them spending their days updating social media accounts with headsets covering their ears and their parents’ […]

A Tale of Two Energy Cities – Dallas and Denver

This post examines the relationship between Dallas and Denver, utilizing the S&P/Case-Shiller Home Price Index for each city.  The pair was selected based on a correlation analysis that yielded a correlation coefficient of 0.84 between the two cities.  This analysis covered the 20 metropolitan indices in the S&P/Case-Shiller Home Price Index series, utilized log returns […]

Tables and Charts from the S&P/Case-Shiller Release

The first chart shows the Condo indices: The next chart shows the low, mid and high price tier indices for San Francisco.  The indices moving together recently suggests that the boom-bust bubble is behind us. The first table  shows the highs and low for the indices, the second shows the year-over-year changes, ranks for year-over-year […]

Widespread Gains in Home Prices for February According to the S&P/Case-Shiller Home Price Indices

Data through February 2015 show that home prices continued their rise across the country over the last 12 months. S&P/Case-Shiller Home Price Indices ─ February 2015

Share of Underwater Loans Ticks Up

RealtyTrac®  reported today that the percentage U.S. residential properties that are seriously underwater — where the combined loan amount secured by the property is at least 25% higher than the property’s estimated market value — ticked up to 13.2% percent of all properties with a mortgage in the 2015 first quarter from 12.7% in the […]

National Credit Default Rates Flat Despite Jump in Bank Card Defaults in March 2015 According to the S&P/Experian Consumer Credit Default Indices

S&P Dow Jones Indices released the latest results for the S&P/Experian Consumer Credit Default Indices. Data is through March 2015.  S&P/Experian Consumer Credit Default Indices Press Release – April 2015

U.S. Weekly Economic Roundup: Speed Bump

The Bureau of Labor Statistics (BLS) reported that just 126,000 payroll jobs were added in March. With the downward revisions of past two months, job gains have now averaged 197,000 per month this quarter (compared with 324,000 the previous quarter). The unemployment rate remained 5.5%, and yearly wage growth continues to stay within 1.8%-2.2%. The […]

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