– by New Deal democrat In the past month, all of the various home price indexes have confirmed abating inflation in the shelter sector. This morning the FHFA and Case Shiller house price indexes were updated through December. Last week we got price information for new houses, and earlier in the month for existing homes. In this […]

 – by New Deal democrat With the continuing desert of official data, the NAR’s existing home sales report – which normally is of secondary importance – temporarily becomes our best look at the housing market.  To repeat what I’ve mentioned an number of times in the past, after the Fed began hiking rates in 2022, mortgage […]

Driven by frozen inventory, repeat home prices continue to increase, but downward pressure on shelter inflation remains  – by New Deal democrat Our last piece of important housing information for the month was released this morning; namely repeat home sale prices as measured by the FHFA and Case Shiller. The former increased by 0.6%, and […]

Frozen homeowners mean record low inventory, meaning existing home prices have stopped declining  – by New Deal democrat Before discussing this morning’s reports on existing home prices, let’s start with a look at new listings and total active listings of housing inventory, which are very instructive: This information is not seasonally adjusted, and obviously follows a […]

New home prices may have peaked after all – by New Deal democrat Yesterday I wrote, “The median price of a new home increased 1.7% in June (not seasonally adjusted), and remained sharply higher YoY at 15.1%.” That’s true, but it wasn’t complete. The 15.1% figure is from the quarterly average. On a monthly basis, […]