Category Archives: Housing Data

The chicken or the egg? Isn’t housing supposed to lead the recovery?

In most recent economic recoveries, residential construction has led the general economic recovery.  Home purchases are very sensitive to interest rates, which tend to be their lowest at the end of a recession. Consequently, interest sensitive purchases, such as homes and automobiles, are the first to rebound at the start of a recovery. This time […]

Chicago’s condo market is the weakest among five major MSAs

With the April 28th release of February 2011 data for the S&P/Case-Shiller Home Price Indices, we saw a significant fall in condo prices in the Chicago area.  The index reported an average condo price decline of 3.1% in February versus January.  The data look worse if you view the market over the prior six months […]

Economic Update: Housing Starts

Housing starts dropped 10.6% in April, to an annual rate of 523,000 from an upwardly revised 585,000 in March. The consensus was for 570,000 starts.  Starts are down 12.8% from April 2010, when the tax rebate program was in full swing. Single-family starts dropped 5.1% to 394,000, while multi-family plunged 28.3% to 114,000. Starts rose […]

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 […]

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