Your home may still be the best investment you’ll ever make – except maybe a marriage license if it comes with a warranty…
Year-Over-Year
The S&P Cotality Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions,reported a 0.8% annual gain in April, up from a 0.7% rise in the previous month.
The 10-City Composite saw an annualincrease of 1.8%, up from a 1.5% increase in the previous month. The 20-City Composite posted a year-over-yearincrease of 1.1%, up from a 0.9% rise in the previous month.
Chicago, New York and Cleveland reported the highest year-over-year gains with year-over-year price increases of 6.5%, 3.8% and 3.2%, respectively.
Seattle posted the lowest return in April, falling -2.3% year over year. (George eyes this as bad news for the rad-left.)
Month-over-Month
The pre-seasonally adjusted U.S. National, 10-City Composite, and 20-City Composite Indices recorded annual gains of 0.8%, 1.1%, and 1.0%, respectively.
After seasonal adjustment, the U.S. National and 20-City Composite Indices reported monthly decreases of 0.1% and 0.04%, while the 10-City Composite Index posted a 0.04% gain.
What I found interesting in all this is that a few minutes after the data, markets were still trying to figure what to do with this. First, the data takes a while to be processed – so this is definitely not look ahead.
So, maybe things will get more interesting around 10 AM eastern when the JOLTS lreport on employment hits from labor.
Where we see the Belief Wave in trouble is as the markets look at this – give up any pretense or delusions of rate cuts – and begin to ponder rate increrases to come later this year.
Toss in more of WW III Weekends and a fine time will be had by all, we’re just so sure…
~ ure
thats it . time to checkout for another break .. enjoy your 250 .. full rotation back to a king . his 2 princes setting up a boiler room in the white house palace . some new currency as well . sincerely what a disgrace . as a youngster in the 1960s i stood in awe of the USA .now i see the most corrupt desperate conmen and fraudsters destroying that greatness . later .. 1000s of points later
this brief article by you G above is the worst bsheet you ever wrote . how much did they give you for your soul and mind ? aint worth it mate . 2 many spike proteins have hit you 2 . yep the old patriots preserving the tyranny . real later
Ouch!!! Len that smarts! I’m sorry the piece didn’t work for you. The housing numbers I cited are the published data, and my comments reflected how I think markets may interpret them. You’re certainly free to disagree with either the data or my conclusions.
I’ve always tried to separate reporting from speculation by labeling my opinions as such. Sometimes I’ll be right, sometimes not—that’s the nature of market analysis.
I appreciate readers who challenge my thinking, but it’s most helpful when they point to specific facts or assumptions they believe are wrong. If there’s a particular point you’d like to discuss, I’m happy to hear it.
As a PN reader, you know that there has been a path open to higher through labor day including a replay of the 1929 blow-off. No, it doesn’t make it any easier to trade (or sit through while people make asses of themselves trying to get rich in a rather controlled kill zone) but that’s how things roll. Smart people can see what’s coming – and – and this is key – having a home youcan’t get kicked out of srweeally is one of the keys to remaining solvent and sane when the world is cracking up – more tomorrow in PN…
g