Fresh Housing Data

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Monthly Case-Shiller/S&P/CoreLogic data is served:

NEW YORK, SEPTEMBER 29, 2020 – S&P Dow Jones Indices today released the latest results for the S&P CoreLogic Case-Shiller Indices, the leading measure of U.S. home prices. Data released today for July 2020 show that home prices continue to increase at a modest rate across the U.S.

YEAR-OVER-YEAR 
The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 4.8% annual gain in July, up from 4.3% in the previous month. The 10-City Composite annual increase came in at 3.3%, up from 2.8% in the previous month. The 20-City Composite posted a 3.9% year-over-year gain, up from 3.5% in the previous month.
Phoenix, Seattle and Charlotte reported the highest year-over-year gains among the 19 cities (excluding Detroit) in July. Phoenix led the way with a 9.2% year-over-year price increase, followed by Seattle with a 7.0% increase and Charlotte with a 6.0% increase. Sixteen of the 19 cities reported higher price increases in the year ending July 2020 versus the year ending June 2020.

MONTH-OVER-MONTH
The National Index posted a 0.8% month-over-month increase, while the 10-City and 20-City Composites both posted increases of 0.6% before seasonal adjustment in July. After seasonal adjustment, the National Index posted a month-over-month increase of 0.4%, while the 10-City and 20City Composites posted increases of 0.5% and 0.6%, respectively. In July, 18 of 19 cities (excluding Detroit) reported increases before seasonal adjustment, while 18 of the 19 cities reported increases after seasonal adjustment.

ANALYSIS
“Housing prices rose in July,” says Craig J. Lazzara, Managing Director and Global Head of Index Investment Strategy at S&P Dow Jones Indices. “The National Composite Index gained 4.8% relative to its level a year ago, slightly ahead of June’s 4.3% increase. The 10- and 20-City Composites (up 3.3% and 3.9%, respectively) also rose at an accelerating pace in July compared to June. The strength of the housing market was consistent nationally – all 19 cities for which we have July data rose, with 16 of them outpacing their June gains.

The Price chart is the one we like most:

If you want a B-school learning project, though, take the price data above and back out the Fed increase in money supply since 2007.  The answer is pretty interesting and gets to the idea that housing may not be as overpriced as you might think.

If you have a job and aren’t among the victims of long-term job reductions and disappearances.  But another topic for another morning.

The next post is the detailed Tuesday morning report…After the housing data, markets pulled back to about even…

WWYGR

Ure

7 thoughts on “Fresh Housing Data”

  1. As a corporate finance guy working up the ranks in a large corporation I offer a comment about Bureau of Labor State and some other data generated by self reporting. Years back ias a new employee I was ordered to be the one to fill them out, forget collecting info, just keep info in line and don’t spend much time. As I became boss those orders were repeated. Nobody ever questioned anything. So I never really trusted most of those ‘reported’ numbers.

  2. Here where I am right now, Wayne County, MI…. used houses are still flying off the shelves.

    I see the “Coming Soon” signs put onto a property and within two months the old occupants are long gone and new people are moved in.

  3. Eww Eww Mr Narrator – eww eww – I gotz a question !

    How comes ALL this Money from the FED – has NOT pushed up the Minimum Wage – talk about BOHICA.

    What gives – or as Slow Joe Bribem would say “Come On, Man’

    – Moar Fuel 4 the Fire ?

    One moar question..eww eww Mr Narrator, eww eww – Is there a Cycle U can count/measure to the US Dollar ? Is there really a 12 Year Cycle of the USD?

    If so – are we at the End of the 12 Year Cycle? eww eww follow up question – If the answer to the aforementioned is YES – can we Chart It? If Yes, can U discern a Head & Shoulders Top – with US Dollar being right at the right shoulder neckline?

    Is there a normal distribution of outcomes for a Head& Shoulders Top?

    Run On effects of a Crashing Dollar could be MASSIVE.

    Cyrptos (Theta&BTC), PM’s would seem to benefit from Crashing US Dollar – like what effects would that have on US Treasuries?

    With all the MISSING TRILLIONS from US TREASURY (Bailouts/WARS/Bailout/WARS/Bailout/Bailouts/Plandemic)

    and the current Program of OVERCLOCKing the Dollar Printing Presses.

    – we seem to be Running to the Bankruptcy Court & and U know if the DONALD is expert in ANYTHING, its BANKRUPTCY..

    – Only question then is Can We (Patriots’ USA) CLAW BACK ALL Those Trillions from Dirty Donald Rimsfeld, Darth Cheney, Lil evil hisself -G. bushwacker jr family and the rest of Pedo/Drugs/War for Profits crowd ?

    But alas, still NONE – ZERO – Bubkiss – Nyet – NIEN! BTC 4 U!

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