Component readings used for calculating Housing Market Index readings also rose in October. Builder sentiment for current market conditions gained five points for a reading of 75. The index reading for builder perception of market conditions in the next six months also rose five points to an October reading of 78. Builder sentiment for home buyer traffic in new home developments rose one point to 48. Buyer traffic readings seldom exceed a Home Builder Index reading of 50. NAHB Chairman Granger … [Read more...]
What’s Ahead For Mortgage Rates This Week – October 2, 2017
Last week's economic reports included Case-Shiller's Home Price Indices, readings on new and pending home sales and Freddie Mac 's weekly mortgage rates report. Weekly jobless claims and reports on inflation and core inflation were also released. Case-Shiller Home Prices Rise in July; New and Pending Home Sales Lower in August According to Case-Shiller July Index reports, national home prices rose at a rate of 5.8 90 percent on a seasonally-adjusted annual basis as compared to June's reading of … [Read more...]
Case-Shiller: Home Prices Higher in July, Home Prices May Have Peaked
Case-Shiller reported higher sales of new homes for July; the national reading for new home sales increased by 0.10 percent to a seasonally-adjusted annual rate of 5.90 percent. The 20-City Home Price Index rose by 0.20 percent to 5.80 percent on a seasonally adjusted annual basis. Seattle Washington held the top spot in the 20-City Index with a growth of 13.50 percent year-over-year. Seattle home prices are growing faster than home prices in Portland Oregon, which reported a year-over-home … [Read more...]
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. The National Association of Home Builders Housing Market Index dropped … [Read more...]
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