Monthly Archives: September 2011

How the Cities Did

The table compares the 20 S&P/Case-Shiller Cities using the data released earlier this week. There are a few positive bits among the numbers.  The last column showing the recovery from recent lows actually has some figures above one or two percent — and only one zero as Las Vegas was the only city to make […]

Behind the Prices

Two ways to look a bit deeper into homes prices are comparing renting to buying and looking at real or inflation adjusted prices.  The charts give pictures of both.   Taking inflation out of home prices doesn’t change the big picture very much — there was still a boom and a bust and there is nothing […]

Is The Worst Over For China’s Real Estate Developers?

In short, Standard & Poor’s Ratings Services thinks the answer is no. Indeed, we believe the industry is bracing for slower sales and lower property prices, thanks largely to the ongoing rollout of government regulations and credit-tightening measures. Making matters worse, we expect credit conditions to become increasingly severe for property developers. That would increase […]

California condo markets see prices falling

With the September 27th release of July 2011 data for the S&P/Case-Shiller Home Price Indices we saw further weakening in condo prices in the California metro areas. The LA index reported no change in condo prices in July versus June, and the San Francisco index fell by 1.1%. As previously noted, this is occurring during […]

Still negative, but some improvement in annual rates of return in home prices in July

July’s data for the S&P/Case-Shiller Home Price Indices were somewhat positive for the housing market. The 10- and 20-City Composites were each up 0.9% and 18 of the 20 cities covered by the indices were up in July over June.  Las Vegas was down 0.2% and Phoenix fell by 0.1%. The annual rates of change […]

Regional differences in home prices

Location matters, in good times and bad. If you look across the 20 cities followed by the S&P/Case-Shiller Home Price Indices you can see how the differences in location have played an important role in the relative magnitude of the increases and declines in home prices across the United States. During mid-2000, the cities’ prices […]

Home Prices Continue to Show Seasonal Strength According to the S&P/Case-Shiller Home Price Indices

Data through July 2011, released today by S&P Indices for its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, showed a fourthconsecutive month of increases for the 10- and 20-City Composites, with both up 0.9% in July over June. To access click here: S&P/Case-Shiller Home Price Indices September 2011 Release

August New Home Sales Drop 2.3% to 295,000 units.

August new home sales dropped 2.3% to 295,000.  It was in line with consensus expectations and comes after July was upwardly revised to a 302,000 unit pace (was 298,000). The Northeast fell 13.6% to a 19,000 unit pace, likely from Hurricane Irene distortions. However the South and the West also saw declines, down 2.4% and […]

Tuesday is Next S&P/Case-Shiller Release on Home Prices

The Tuesday September 27 release of the S&P/Case-Shiller Home Price Indices, covering July 2011, may offer a brief respit from worries over the European debt crisis. Recent housing news is mixed with single family housing starts dropping 1.4% in August compared to July and remaining far below levels needed for household formation over the long run. […]

Australian And New Zealand RMBS Criteria Released, With Limited Impact On Outstanding Ratings

This month, Standard & Poor’s updated its methodology and assumptions for analysing credit risk associated with collateral backing Australian and New Zealand residential mortgage-backed securities (RMBS). These criteria, which apply immediately to all new and existing Australian and New Zealand RMBS backed by prime, subprime, and nonconforming mortgages, includes some changes from the criteria proposed […]

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