Housing Analysis
NAHB: Builder Confidence Dips on Hurricane Damage
Home builders had less confidence in housing market conditions in September. In the aftermath of Hurricanes Harvey and Irma, builders worried that ongoing shortages of construction labor and materials would worsen. NAHB Chairman Granger MacDonald said that concerns over labor and building materials were “intensified,” but said that builder confidence was expected to return to high readings once rebuilding is underway.
Read MoreNew Home Construction Seen As A Possible Solution To Pent Up Demand For Homes
Builder confidence in markets for new homes fell three points in February to a reading of 58. January’s reading was revised upward to 61. Builders have repeatedly expressed concerns shortages of labor and lots for development, but continue to express confidence in future sales conditions.
Read MoreHighest Year-Over-Year Increase In Home Prices Since 2005
Two major indicators of home price trends showed a slowing momentum for home prices in December.
Read MoreCase Shiller Price Index Shows That It’s A Buyers Market
Two major indicators of home price trends showed a slowing momentum for home prices in December. The S&P Case Shiller 10 and 20 city indices reported that of 20 cities tracked, home prices were lower in December than for November.
Read MoreExisting Home Sales Lowest Since 2012
Sales of existing homes fell by 5.10 percent in January according to the National Association of REALTORS. Pre-owned home sales slowed to a seasonally-adjusted annual rate of 4.62 million homes against an expected reading of 4.65 million and Decemberâs reading of 4.87 million existing homes sold.
Read MoreCase Shiller Price Index Shows Homeowners A Rise In Home Equity
According to the S&P/Case-Shiller 10 and 20-City Home Price Indices released Tuesday, the U.S. Housing Market is on a roll based on year-over-year increases in average home values, but month-to-month results were mixed.
Read MoreExisting Home Sales Reach Highest Level In 7 Years
The NAR provided great year-end news as existing home sales in December pushed 2013 sales of existing homes to a 7 year high.
Read MoreCase Shiller Price Index Shows Highest Year-Over-Year Gains Since 2006
The Case-Shiller 10 and 20-City Home Price Indices for October were released on December 31. Although home prices in most cities continued to show year-over-year gains, the pace of home price appreciation is expected to slow in 2014.
Read MoreNew Home Sales Show Healthy Year-Over-Year Increase
The holiday season and winter weather slowed home sales in November. Last week, the NAR reported that sales of existing homes had slumped to their lowest level in nearly a year, but this was not unexpected.
Read MoreHousing Market Index Shows Builder Confidence Up 23 Percent Year-Over-Year
According to the National Association of Homebuilders/Wells Fargo Homebuilders Market Index for December, builder confidence recovered in with a reading of 58. This surpassed both expectations of 56 and last month’s reading of 54.
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