Homebuilder confidence dropped two points in June according to the National Association of Home Builders Housing Market Index. June's index reading was 64, which indicates strong sentiment among home builders for current housing market conditions. NAHB component readings also dropped in June with builder confidence in current home sales one point lower at an index reading of 71. Home builder confidence in home sales conditions over the next six months dropped two points to 70 and builder … [Read more...]
Case-Shiller: Home Price Growth Slows in March
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...]
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