Monthly Archives: April 2011

Continued Challenges for the U.S. Market: FHFA House Price Index Declines in Feb.

The 1.6% decline in the February FHFA House Price Index indicates that home prices will remain weak. This will likely have a negative effect on the U.S. housing market and the performance of the underlying collateral in U.S. residential mortgage-backed securities. The amount of shadow inventory (which S&P defines as outstanding properties whose borrowers are […]

Will spring selling season confirm improved new home sales?

Takeaway: Home sales are up 11% in March versus February, but they are still low historically. I think there still is a low level of conviction that a housing recovery is underway. Whether you look at the most recently published data from S&P Case-Shiller Home Price Indices, or government data on housing starts and new […]

Does anyone want to buy a house any more?

The Mortgage Bankers Association reported that mortgage applications fell 5.6% last week while the US Census Bureau reports that home ownership slipped again in the first quarter of the year to 66.4% compared to peak of 69.2% in the 2004 fourth quarter. Is it possible that the housing bust has convinced some people that owning […]

Home Prices Edge Closer to 2009 Lows According to the S&P/Case-Shiller Home Price Indices

Data through February 2011, released today by S&P Indices for its S&P/Case-Shiller1 Home Price Indices, the leading measure of U.S. home prices, show prices for the 10- and 20-city composites are lower than a year ago but still slightly above their April 2009 bottom… To access click:  S&P/Case-Shiller Home Price Indices April 2011 Release

Who’s Up, Who’s Down

This report of the S&P/Case-Shiller Home Price Indices points to a few cities seeing some stability, one seeing gains and several where prices remain weak.  Washington DC is the only place where home prices are rebounding and holding on to their gains.  Prices in the capital were up 2.7% in the last 12 months and […]

How It Looks from Here

Cut to the chase – another weak, disappointing report from S&P/Case-Shiller Home Price Indices. Little, if any, good news about housing. Prices down while trends in sales and construction are disappointing. Ten of the 11 metro areas that recorded index lows in January fell further in February. The one exception, Detroit, is 30% below its […]

Housing Starts at 549,000 in March – Maybe a step towards working off excess supply

Housing starts in March were 549,000, up from February and better than the Bloomberg survey expectations.  Single family homes were 422,000, also up from February.  But the big picture is still no real progress.  Starts peaked at the beginning of 2006 at an incredible 2.2 million, slide though the end of 2008 to about 500-600 […]

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