Monthly Archives: September 2012

Improving Homebuilders Sector

The S&P/ISDA CDS U.S. Homebuilders Select 10 Index has seen a -45% drop in spread YTD.  For the month this sector led the way moving down an additional 37bps from its August month end value of 226bps.  For a $1 million investment that would be a move of $15,600 (YTD).  This index of a select […]

Rent-to-Buy and Home Prices to Income

Two common measures of home prices are comparing the costs of renting vs. buying a home and the ratio of home prices to income.  Both these measures suggest this is a good time to buy. The Rent-to-Buy ratio is below its average for the 1987-2012 period by a small amount, but is headed toward neutral […]

Four consecutive monthly increases in condo prices

July 2012 data for the S&P/Case-Shiller Home Price Indices were released on Tuesday September 25th, showing the fourth consecutive monthly increase in condo prices in all five of the metro areas covered by our indices – Boston, Chicago, Los Angeles, New York and San Francisco. It would have been the fifth had Chicago prices not […]

Q&A On Europe’s Housing Markets: Little Solid Ground

Given that there is no one single housing market in Europe, is there any general trend? Jean-Michel Six: There are different fundamentals operating in each country’s market across Europe and even in the eurozone. The supply-demand situation across countries varies widely, from an excess of supply in some markets to an excess of demand in […]

Comparing the Cities

Now that we have three months in a row with all 20 cities showing monthly gains, people want to know how far we are from the all time highs and how soon we will set new record highs. Answers to either question differ from city to city.   Dallas and Denver are closest to their record […]

CNBC Exclusive Interview with David Blitzer on U.S. Home Prices for July

David Blitzer, Managing Director and Chairman of the S&P Index Committee, discusses the latest data results for the S&P/Case-Shiller Home Price Indices on CNBC’S Squawk on the Street.

Home Prices Increase Again in July 2012 According to the S&P/Case-Shiller Home Price Indices

Data through July 2012, released today by S&P Dow Jones Indices for its S&P/Case-Shiller1 Home Price Indices, the leading measure of U.S. home prices, showed average home prices increased by 1.5% for the 10-City Composite and by 1.6% for the 20-City Composite in July versus June 2012.  For the third consecutive month, all 20 cities […]

For China’s Property Developers, Will Weaker Economic Conditions Obstruct Recovery Prospects?

Like many others, Chinese property developers are nervously waiting to see what’s in store for China’s weakening economy. And they probably have some cause to worry. A weak economic outlook typically dampens purchasing power and investment sentiment, potentially leading to easing property sales and weaker credit quality. Standard & Poor’s Ratings Services has highlighted the […]

Standard & Poor’s Approach To Rating North American REITs

Standard & Poor’s rates a universe of 70 equity real estate investment trust (REITs) generally concentrated in a variety of sectors. In this CreditMatters TV segment, Vice President of Client Business Management Steven Rosenzweig and Director Beth Campbell discuss our analytical framework for rating these commercial entities. Topics include business risk and financial risk analyses, […]

Consumer credit default rates improve again in August

On September 18th S&P Dow Jones Indices and Experian released August 2012 data for the S&P/Experian Consumer Credit Default Indices, which measure consumer credit default rates. August data showed declines in the composite, first mortgage and second mortgage default rates. The national composite declined to 1.50% in August from July’s 1.51% rate, the first mortgage […]

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