Case-Shiller, CoreLogic and others report nominal house prices, and it is also useful to look at house prices in real terms (adjusted for inflation) and as a price-to-rent ratio. As an example, if a house price was 0,000 in January 2000, the price would be close to 6,000 today adjusted for inflation. This is...
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This will be an interesting case to watch, from Reuters: Stockton, California bankruptcy eligibility trial starts As the biggest U.S. city to file for bankruptcy, the outcome for Stockton will be an important test case for the .7 trillion U.S. municipal debt market. The hearing is expected to last most of this week. Stockton,...
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The Case-Shiller house price indexes for January will be released Tuesday, March 26th. Zillow has started forecasting the Case-Shiller almost a month early – and I like to check the Zillow forecasts since they have been pretty close. Zillow Forecast: January Case-Shiller Composite-20 Will Be Up 8% Year-Over-Year e predict that next month’s Case-Shiller...
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Note: I’ve been following the Sacramento market to look for changes in the mix of house sales in a distressed area over time (conventional, REOs, and short sales). The Sacramento Association of REALTORS® started breaking out REOs in May 2008, and short sales in June 2009. Over the last two years there was a dramatic shift...
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There is a clear seasonal pattern for house prices. Even in normal times house prices tend to be stronger in the spring and early summer, than in the fall and winter. Recently there has been a stronger than normal seasonal pattern because conventional sales are following the normal pattern (more sales in the spring and summer), but...
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CR NOTE: This is a very long piece from economist Tom Lawler on long term house prices. I’ve written about this before, The upward slope of Real House Prices, and Tom digs much deeper into the data! From Tom Lawler: One of the most widely abused home price series used by folks is the...
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First, on Greece, here is the Eurogroup statement on Greece. Excerpt: The Eurogroup was informed that Greece is considering certain debt reduction measures in the near future, which may involve public debt tender purchases of the various categories of sovereign obligations. If this is the route chosen, any tender or exchange prices are expected...
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From Zillow: October Marks 12th Consecutive Month of National Home Value Increases Zillow’s October Real Estate Market Reports, released today, show that national home values rose 1.1% from September to October to 5,400. This is the largest monthly increase since August 2005 when home values rose 1.2% month-over-month. October 2012 marks the 12th consecutive...
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I’ve mentioned this before, but it is probably worth repeating …The Not Seasonally Adjusted (NSA) house price indexes will show month-to-month declines later this year. This should come as no surprise and will not be a sign of impending doom. • There is a seasonal pattern for house prices. Prices tend to be stronger...
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Note: The Case-Shiller report to be released next Tuesday is for July (really an average of prices in May, June and July). Zillow Forecast: July Case-Shiller Composite-20 Expected to Show 1.6% Increase from One Year Ago On Tuesday, Sept. 25, the Case-Shiller Composite Home Price Indices for July will be released. Zillow predicts that...
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