home prices

New Home Sales January 9.6% Surge Still Inside Error Margin

January 2014 New Residential Single Family Home Sales increased 9.6% to 468,000 in annualized sales.  This change is well within the statistical error margin of ±17.9%.   This is the highest level of new home sales since July 2008.  New single family home sales are now just 2.2% above January 2013 levels, but this figure has a ±20.2% margin of error.

Don't Blame the Weather For Existing Home Sales -5.1% Drop

The NAR reported existing home sales plunged -5.1% from last month and are down -5.1% from January of last year.  This is the 3rd decline from from year ago.   Existing home sales are now at July 2012 levels.  While many blame the harsh winter on falling sales, in the West where weather has not been a factor, existing home sales declined -7.3% for the month and are down -13.7% for the year.

Existing Home Sales Soaring Highs Deceptive

The NAR reported existing home sales increased 1.0% from last month and are down -0.6% from December of last year.  This is the 2nd decline from from year ago, previously not seen since June 2011.   Existing home sales for the entire 2013 year, on the other hand, hit housing bubble levels not seen since 2006.  For all of 2013, existing home sales increased 9.1% from 2012.

Case-Shiller Home Prices Double Digit Annual Increase Party May Be Over

The October 2013 S&P Case Shiller home price index shows a seasonally adjusted 13.6% price increase from a year ago for both the 20 metropolitan housing markets and the top 10 housing markets.  This is an incredible price run up and has not been seen since the height of the housing bubble, February 2006.

Existing Home Sales Go Negative for the First Time in 29 Months

The NAR reported existing home sales plunged -4.3% from last month and are down -1.2% from last year.  This is the first yearly decline in existing home sales since June 2011, a full 29 months ago.   Unsold Inventory increased 5.0% from last year and represents a 5.1 months supply at current rates .  Volume was an annualized and seasonally adjusted 4.90 million for November 2013.

 

Case-Shiller Home Prices Show 2006 Level Yearly Increases Again

The September 2013 S&P Case Shiller home price index shows a seasonally adjusted 13.3% price increase from a year ago for both the 20 metropolitan housing markets and the top 10 housing markets.  America is now only 20% away from the peak of the housing price bubble and the two indexes are comparable to May 2004 levels

Case-Shiller Housing Price Index Shows Bubble Like Annual Gains Again

The August 2013 S&P Case Shiller home price index shows a seasonally adjusted 12.8% price increase from a year ago for over 20 metropolitan housing markets and a 12.7% change for the top 10 housing markets from a year ago.  Once again price increases are on high for homes.

Existing Home Sales - Affordability at Five Year Low

The NAR reported existing home sales declined -1.9% from last month and are up 10.7% from last year.  Sales have increased on a yearly basis for the last 27 months in a row.   Inventories are still a very tight five months of supply.  Inventories increased 2.0% from last month but are down, -7.4% from a year ago.   Existing homes sales nationwide have increased 10.7% from a year ago.

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