Mortgage Loans

September 4, 2019 Real estate loans rose at a 2.0% pace in July after  having risen 1.7% in June (the light blue bars).   Over the course of the past year mortgage lending has risen 3.2% (the dark blue line). While mortgage lending has been sluggish total loan growth...

Construction Spending

September 3, 2019 . Construction spending (the green bars above) rose 0.1% in July after having declined 0.7% in both May and June.  Over the past year it has fallen 2.7%.  Not only is this a very volatile series with large swings from month to month, even the...

Pending Home Sales

August 29, 2019 Pending home sales fell 2.5% in July to 105.6 after having jumped 2.8% in June to 108.3 after having risen 1.1% in May.   In the past year pending home sales have declined 0.3%. Lawrence Yun, NAR chief economist noted that  “Super-low mortgage rates...

Case Shiller Index of Home Prices

August 27, 2019 Case Shiller Index of Home Prices in 20 cities rose 0.3% in June after having risen 0.6% in May and 0.8% in April.   Five years ago home home prices were rising at a 10.5% rate.  A year ago they were climbing at a 6.0% pace.  But home prices continue...

Existing Home Sales

August 23, 2019 Existing home sales climbed 2.5% in July to 5,420 thousand after having fallen 1.3% in June.  Sales currently are 0.6% higher than where they were at this time last year. Lawrence Yun, NAR chief economist said that “Home sales are running at a...

New Home Sales

August 23, 2019 New home sales fell 12.8% in July to 635 thousand.  However, there was a huge upward revision for June which now shows an increase of 20.9% in that month.  New home sales are always volatile so we prefer to look at the 3-month average pace of new home...