Case-Shiller Indices reported slower home price growth in March with a 3.70 percent gain year-over-year as compared to 3.90 percent home price growth for the year-over-year period in 2018. This was the slowest pace of home price growth in seven years. The 20-City Home Price Index showed Las Vegas, Nevada as having the top year-over-year home price growth rate of 8.20 percent; Phoenix, Arizona had year-over-year home price growth of 6.10 percent. Tampa, Florida had the third highest growth rate … [Read more...]
NAHB: May Home Builder Confidence Hits Highest Level in 7 Months
The National Association of Home Builders reported the highest builder confidence reading in seven months for May. May's reading exceeded expectations for an index reading of 64 and rose three points to 67. Component readings for the main NAHB reading were also higher. Builder confidence in current housing market conditions rose three points to 72; confidence in housing market conditions for the next six months rose one point to 72 and the reading for buyer traffic in single-family housing … [Read more...]
Case-Shiller: February Home Price Growth Rate Slowest in 6.50 Years
Home price growth slowed in February according to the Case-Shiller 20-City Home Price Index. Home price growth hit its lowest rate in more than six years; this indicates that the roaring growth of home prices is settling and could provide opportunities for more would-be buyers to enter the housing market. The 20-City Housing Market Index rose 0.20 percent in February as compared to January. Year-over year home prices grew by 3.00 percent and missed analyst expectations of a 3.20 percent growth … [Read more...]
FOMC Statement: No Changes to Key Fed Rate
The meeting of the Federal Reserve's Federal Open Market Committee ended Wednesday with the Committee's customary post-meeting statement recapping monetary policy matters considered by the Committee. Members voted not to change the current target rate range of the federal funds rate. The current rate range of 2.25 percent to 2.50 percent. Federal Funds Target Rate Range: Monetary Policymakers Remain "Patient" FOMC members cited low inflation pressures, global and domestic economic and … [Read more...]
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