26 Jul 2021
By Aadil Nathoo

What’s Ahead For Mortgage Rates This Week – July 26, 2021

Financial Reports, ,
Last week’s economic reporting included readings from the National Association of Home Builders Housing Market Index, data on sales of new and previously-owned homes, and weekly reports on mortgage rates and jobless claims. NAHB: Affordability, Shortages of Labor and Materials Impacting U.S. Housing Markets Housing market conditions are changing according to July’s Housing Market Index produced by the National Association of Home Builders. Although the HMI reading declined by one point in July, ongoing trends including labor shortages, higher prices for building materials, and affordability impacted builder confidence in overall market conditions. July’s index reading was 80 as compared to…
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02 Jun 2021
By Aadil Nathoo

Case Shiller: Home Prices Rise at Fastest Pace Since 2005

Financial Reports, ,
March readings for S&P CoreLogic Case-Shiller Home Price Indices rose to their highest level since 2005 in March. National home prices rose by 13.20 percent year-over-year as compared to February’s reading of 12.00 percent growth. The Case-Shiller 20-City Home Price Index reported average year-over-year home price gains of 13.30 percent in March. Phoenix, Arizona continued to lead the 20-City Index with a year-over-year home price growth of 20 percent. San Diego, California followed with home price growth of 19.10 percent; Seattle, Washington reported year-over-year home price growth of 18.30 percent. How the Covid Pandemic Impacted  Home Prices Real estate pros…
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16 Apr 2021
By Aadil Nathoo

NAHB: Home Builder Confidence Ticks Up in April

Real Estate, ,
The national reading for home builder confidence rose one point to an index reading of 83 in April; the National Association of Home Builders predicted a reading of 84. Component readings for April’s national index readings were mixed.  Builder confidence in current market conditions for single-family homes rose one point to 88. Builder confidence in market conditions for single-family homes in the next six months fell two points to 81 but homebuilder confidence in buyer traffic in new home developments rose two points to an index reading of 75. Readings over 50 indicate a majority of builders are positive about…
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01 Apr 2021
By Aadil Nathoo

Case-Shiller: Phoenix Home Prices Hot, Hotter, and Hottest

Financial Reports, ,
The S&P Case-Shiller National Home Price Index posted its highest gain in nearly 15 years with a year-over-year home price growth rate of 11.20 percent in January. The December 2020  National Home Price Index reported 10.40 percent home price growth. The S&P Case-Shiller 20-City Home Price Index reported 11.10 percent year-over-year growth with 19 of 20 cities reporting higher home prices. Cleveland, Ohio was the only city reporting no home price growth in January. Detroit, Michigan reported home price growth data for the first time in nearly a year. Phoenix, Seattle, and San Diego Home Prices are Hot, Hotter, and…
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18 Nov 2020
By Aadil Nathoo

NAHB: Rising Demand for Homes Boosts Builder Confidence

Real Estate, ,
Builder confidence in housing market conditions reached a new record high in November according to the National Association of Home Builders. November’s index reading of 90 was five points higher than in October. Index readings over 50 indicate positive builder sentiment toward market conditions. Readings for the Housing Market Index fell below 50 in April and May as the COVID-19 pandemic grew. Component readings for the Housing Market Index rose six points to 96 for current housing market conditions and one point to 89 for builder confidence in home sales in the next six months. Builder confidence in buyer traffic…
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