residential real estate

Existing Home Sales Increase 7.8% for August 2012

The NAR released their August 2012 Existing Home Sales. Existing home sales increased 7.8% from last month and inventories are down to a now tight 6.1 months of supply. Existing homes sales have increased 9.3% from a year ago. Volume was 4.82 million, annualized against July's 4.47 million annualized existing home sales. Existing home sales haven't been this strong since May 2010.

Case-Shiller Index Shows Home Prices Increased 0.5% From a Year Ago for June 2012

The June 2012 S&P Case Shiller home price index shows a 0.5% price increase from a year ago for over 20 metropolitan housing markets and a 0.1% change for the top 10 housing markets from June 2011. Not seasonally adjusted home prices are now comparable to July 2003 levels for the composite-20 and September 2003 for the composite-10.

New Home Sales Increase 3.6% for July 2012, June Significantly Revised to -3.5%

July New Residential Single Family Home Sales increased by 3.6%, or 372,000 annualized sales. June's single family new home sales were significantly revised up, from -8.4% to -3.6%. The July monthly percentage change has a ±14.1% error margin and this is why we see large revisions to this report constantly.

New Residential Construction Declines -1.1% in July 2012

The July 2012 Residential construction report showed Housing starts decreased, -1.1%, from June's revised 754,000, to a level of 746,000. In June, housing starts increased by a revised +6.8%. Housing starts have increased +21.5% from a year ago, outside the ±14.2% margin of error. For the month, single family housing starts decreased -6.5%.

Case-Shiller May 2012 Index Shows Lowest Annual Home Prices Drop in 18 Months

The May 2012 S&P Case Shiller home price index shows a -0.7% price drop from a year ago for over 20 metropolitan housing markets and a -1.0% decline for the top 10 housing markets from May 2011. This is the smallest annual price decline in 18 months.

New Home Sales Plunge -8.4% for June 2012

June New Residential Single Family Home Sales declined by -8.4%, or 350,000 annualized sales. This monthly percentage change has a ±12.4% error margin. May's single family new home sales were significantly revised down, from +7.6% to +6.7%, or 382,000 annualized sales. April was revised up to 358,000 from 343,000 as was March, to 352,000.

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