Existing Home Sales

September 21, 2022 Existing home sales fell 0.4% in August to 4,800 thousand after declining 5.7% in July.  In fact, this is the seventh consecutive decline in sales since reaching a peak in January.  Clearly home sales are being impacted by the combination of rapidly...

Housing Starts

September 20, 2022 Housing starts jumped 12.2% in August to 1,575 thousand after having fallen 10.9% in July.  While bouncing around from month-to-month, builders are clearly becoming more cautious. Builders confidence has declined in the past several months as rising...

Case Shiller Index of Home Prices

August 30, 2022 The Case Shiller Index of Home Prices in 20 cities rose  0.4% in June after climbing 1.2% in May, 1.7% in April and 2.4% in March.  Clearly price appreciation is slowing down.  Over the past year home prices have risen 18.7%. A broader index  for the...

Pending Home Sales

August 24, 2022 Pending home sales fell 1.0% in July to 89.8 after having declined 8.9% in June.  Pending home sales are being impacted by the combination of both higher prices and rapidly rising mortgage rates. Lawrence Yun, NAR’s Chief Economist said,...

New Home Sales

August 23, 2022 New home sales fell 12.6% in July to 511 thousand after declining 7.1% in June.  In fact, this is the fourth big decline in the past five months. The combined impact of a sharp rise in mortgage rates and rapid price appreciation has triggered a sharp...

Homebuilder Confidence

August 15, 2022 Homebuilder confidence fell 6 points in August to 49 after having plunged 12 points in July and 2 points in June.  That is the eighth consecutive decline in this series which peaked at 84 in December.  This is the lowest reading since May 2020. ...