– by New Deal democrat The final note from yesterday’s data is concerning new home sales, and more importantly at the moment, prices. As a general refresher, new home sales are perhaps the most leading of all housing data; but they are very volatile and heavily revised, which is why I pay more attention to […]

 – by New Deal democrat For the past year, my view has been that the housing market is in recessionary territory, although that has not translated to the economy as a whole. As per usual, home sales lead house prices; and that trend continued with the Case Shiller and FHFA repeat sales house price indexes through […]

 – by New Deal democrat Although the government shutdown is long over, the most recent government housing updates have been for October, I.e., two months stale. Thus the NAR’s existing home sales report has temporarily become among our best look at housing sales, prices, and inventorythe housing market.  As per my context all this year, after […]

– by New Deal democrat Although the government shutdown is over, most data points – including all having to do with housing – have not been updated, which means that alternate data sources, including the NAR’s existing home sales report, have temporarily become our best look at the housing market.  As per my context all 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 […]

Recently, Trump said he was “thinking about” ending capital gains taxes on home sales. Who benefits? “The biggest beneficiaries of such a change will likely be longtime homeowners in the country’s more expensive housing markets. “Removing or increasing the capital gains limit — currently $250,000 for single homeowners or $500,000 for married couples — on […]

 – by New Deal democrat In ordinary times, new home sales are important because while they are very noisy and heavily revised, they are the most leading of all housing metrics. They remain important even presently because they can tell us about the underlying upward or downward pressure on the economy going forward one year […]

I believe it was about 4-5 years ago, we decided to move from our of 2600 square feet on 2/3rds of an acre. We also wanted to get to some place warmer. We did eventually do both and not exactly where we wanted. The first year we went exploring in the areas around Phoenix and […]

Repeat home sale indexes show continued deceleration in house price inflation, more comfort room for Fed to cut rates  – by New Deal democrat This morning, we got the repeat home sales price data from the FHFA and Case Shiller. And the news was good, especially in the slightly leading FHFA Index. This is of […]

 – by New Deal democrat I figured this month I would report on new and existing home sales at the same time, since they have been reported only one day apart. I have been looking for a rebalancing of the market between the two, which means *relatively* more existing vs. new home sales, firming in new […]