Category Archives: Uncategorized

House and Condo Prices

Prices for condominiums in five cities tracked by the S&P/Case-Shiller Indices track closely to price indices for single family homes in those same cities.  In New York the condos have recovered more strongly than houese, in the other cities there is almost no  difference.  The charts below compare houses and condos in real inflation adjusted […]

What Next From Housing?

Recent data move in all directions — weakness seen in monthly data for many of the S&P/Case-Shiller Home Price cities as year over year numbers approach 13%; foreclosures at lowest levels since 2008,  mortgage applications for purchase rising slightly despite concerns for higher interest rates. Meanwhile October existing home sales down and NAHB Housing Market […]

How the Cities Did in August 2013

Year-over-year numbers were strong, Denver and Dallas continue to set new highs, Detroit is the only city under its January 2000 level. Nationally, prices are about 20% below their peak levels and have recovered some 23% from the bottom.

Has Housing Peaked?

Existing home sales were down in September and mortgage rates are rising.  Data hints that the housing recovery is slowing or could be ending.  The next S&P/Case-Shiller Home Price  report due Tuesday October 29th should tell the story.  After solid year-over-year gains of 12% or more in prices with home prices rising in all 20 […]

September Foreclosure Activity Down 27% From Year Ago, 36th Month With Annual Declines

RealtyTrac® ( released its U.S. Foreclosure Market Report™ for September and the third quarter of 2013, on October 11th. Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 131,232 U.S. properties in September, a 2 percent increase from the previous month but a 27 percent decrease from a year ago. […]

Flipping Houses

There are more and more reports of investors buying homes out of foreclosure either as rentals or to flip houses as prices continue to recover.  The New York Times Magazine tells the story of one home in Seattle which was lost to foreclosure in the recession, then purchased by an investor and sold for an […]

Bubble Trouble?

With the continued price gains seen in the S&P/Case-Shiller Home Price Indices, questions about a new housing bubble are bubbling up.  The Sunday New York Times editorial page  asks about housing and laments that the weak recovery and student loan debt are preventing potential home buyers in their 20’s and 30’s from helping the housing […]

Have Prices Peaked?

The S&P/Case-Shiller Home Price Indices July report is due next Tuesday at 9 AM.  The report  could show a shift in home prices following the rise in interest rates in May and June. The movement may give some insight into the Fed’s action this week to continue QE3 into the fall.  Existing home sales continue […]

Rent vs. Buy and Inflation Adjustments

The charts below show the current situation for two popular questions — which is better, renting or buying? and how high would home prices be if inflation is removed?  The Rent vs. Buy is just slightly into the rent region on the top half of the chart. Given that these are broad based indices — […]

How the Cities Did in June

  Peak and trough dates refer to the period surrounding the financial crisis. Two cities, Denver and Dallas, have made new all time highs in June; the peak dates shown on the table refer to their pre-crisis highs.  Looking at the 10- and 20-City composites, the recovery has a way to go to equal the […]

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