Housing Report: Dates Matter

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Case-Shiller, S&P, CoreLogic Housing report is just out.  And like we told you, be ready for useful data, but from a little way back on the calendar because it takes so long for sales to close and deals to be done.

“NEW YORK, AUGUST 30, 2022: S&P Dow Jones Indices (S&P DJI) 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 June 2022 show that home prices continue to increase across the United States.

YEAR-OVER-YEAR
The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported an 18.0% annual gain in June, down from 19.9% in the previous month. The 10-City Composite annual increase came in at 17.4%, down from 19.1% in the previous month. The 20-City Composite posted an 18.6% year-over-year gain, down from 20.5% in the previous month.

Tampa, Miami, and Dallas reported the highest year-over-year gains among the 20 cities in June. Tampa led the way with a 35.0% year-over-year price increase, followed by Miami in second with a 33.0% increase, and Dallas in third with a 28.2% increase. Only one of the 20 cities reported higher price increases in the year ending June 2022 versus the year ending May 2022.

MONTH-OVER-MONTH
Before seasonal adjustment, the U.S. National Index posted a 0.6% month-over-month increase in June, while the 10-City and 20-City Composites both posted increases of 0.4%. After seasonal adjustment, the U.S. National Index posted a month-over-month increase of 0.3%, and the 10-City and 20-City Composites posted increases of 0.3% and 0.4%, respectively.

In June, 13 cities reported increases before and after seasonal adjustments.”

The charft that matters to us is the national price trend chart in absolute dollars:

We would hasten to add that these are “street numbers.”  You you need to keep in mind that monetary inflation (M2) has been running “officially” 5.277 percent of the annual gains.  And and John Williams’ work at Shadow Government Stats reports, M3 – which the Fed is too cowardly to report anymore because it reveals so many financial misdirection’s, is closer to the 25% range as reported here.  (Allan Greenspan screwed poochie on this one which is less than candid are we view it.)

Takes a little edge off the gains buzz, doesn’t it?

Write when you get rich,

George@Ure.net

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George Ure
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18 thoughts on “Housing Report: Dates Matter”

    • That’s an insightful read and worth serious attention … with that said, I have to ask, Where is all the work Nikola Tesla did creating “Free Energy” ? Why is it still being suppressed? And what of all the patents that have been bought up by corporations and “shelved” because they weren’t inline with fossil fuels? Some inventions were Too Good and never made it to market.

      It’s ridiculous to think, it’s the end of the road when actually, we are at a fork in the road. (Someone) seems to think they need to wipe everything (us) off the table before pulling all the good stuff out. It does exist.

      • “Where is all the work Nikola Tesla did creating “Free Energy” ? Why is it still being suppressed? ”

        Lol lol lol.. you must have missed the memo.. nothing is free… but .. the atmospheric electron flow is there all around us..it just doesn’t fit the business profile.. the same reason the grid is designed for maximum profits.. big 3 mw wind turbines rather than promoting solar tou households..our whole economic setup revolves around sales.. to have free energy it would upset the whole system..
        Can’t have it..you can make one for yourself nobody gives 2 cents about that..you just can’t give it or show anyone the secrets or sell it..

    • atbillp37. We are at peak oil because Brandon broke pipeline #5 and keystone, banned fracking, and revoked oil field leases in The gulf and in ANWAR. That ought to shut down the only thing left in the US produced in any real usable quantities, and since the fed note is backed by oil, Brandon put a solid floor underneath the inflation climbing to the stratosphere near you. Makes one wonder if globally if on other affronts whether or not all the sources feeding the the Yhangze River, the Danube, lake mead, lake powell et al, have had their sources shut in (flood abatement damns stopped from releasing water down stream). Makes for interesting optics and a collapse plan. Think about it …

      • Yet. We could be harvesting the oil from our waste plastics and foams..
        Why not use COAL… that stuff is great..

      • “Why not use COAL… that stuff is great..”

        Oh ..my support of the coal mining industry is not a form if sponsored advertising .. I just love the stuff . Great energy output..if the burn boxes are configures right its a great clean energy source..and if they start making miltifuel pellets out of coal dust and waste saw dust.. I’d be proud to be the first customer..3 parts saw dust 1 part coal dust.

  2. Here’s a little anecdotal housing data. Bought a house approximately 50 miles north of the Tragic Kingdom five years ago when I retired and moved back to the Free State of Florida. At that time, and just about every month since, homes in my neighborhood were selling within *days* of showing up on Zillow or Redfin. We missed out on several because there just wasn’t time to fly from Texas to tour a house before it sold. Finally found a house to the Spousal Unit’s liking. And had to buy it basically over the phone within four hours of the listing hitting the web. I never cancelled the computer updates that Redfin and Zillow send out announcing properties. Up until the past month or so houses and empty lots in the hood were still flying off the shelf. More recently that pace has slowed and the words “Price Reduced” and “Still On The Market” now figure prominently on the sale announcements I am getting.

  3. So, “here comes the Big Storm,” right?
    Economy crash, wars in diverse places, cats sleeping with dogs — and all manner of other catastrophes, right? (Oh, the huge manatees!)

    Well, a great, Boston, old-school Democrat politician, Tip O’Neil, famously said, “All politics is local.” I would add, “or starts out that way, anyhow.”

    Now in the coming Great Storm (if any) we will see that all emergency response is local — or starts out that way, too.

    If your house is on fire, FEMA won’t respond. If you break your arm, The Red Cross won’t be coming to set it. These agencies deal with the VAST, not the local.

    This means that in any Great Storm to come, especially of the physical kind, your local and county agencies will be the FIRST Responders. And, it may very well involve you as a volunteer, or as a client.

    (Here’s a tip from an Old Emergency Guy: Try to be “on staff” as a volunteer, rather than a refugee or a client-victim. You’ll be on the inside for knowledge and supplies as a worker. Get coffee. Run errands. Operate the Xerox machine. Man a telephone position. You’ll be NEEDED.)

    The managers will tell you today, while the sun is out, that only trained and certified people will be employed — but when their backs are against the wall, amid all the shouting and the sounds of running feet and distant gunfire, they’ll welcome help from ANYbody
    …but I digress.

    Point is: your likely first encounter will be either IN or AT a local emergency services operation.

    Here’s the “On Guard” point. Idiots often with big mouths and domineering personalities, are prone to “take over” and try to run things. Most ordinary folks won’t oppose them — at least at first, because most of us err on the side of politeness and cooperation. Especially if we aren’t either trained or officially credentialed.

    I penned a paper for FEMA some years ago, titled: “The Dominant But Unqualified Personality In An Emergency Operations Center.” The title carries the whole point of the paper. It’s a recognized concept among many emergency services professional people now-a-days.

    …and now, you know it too.

    When the balloon goes up, DON’T ASSUME. SAVE YOUR OWN ASS.

  5. Damn. Just saw that the World lost Gorbachev. Heck, he was 91 but he was one of the few Russians I ever really liked.

  6. To whom it may concern –
    A friend has been told by the local Coke people that Coke products, if not all soft drinks, are going have a BIG price increase on September 1. Both diet and regular soft drinks. Don’t know but could it be a late arriving Michelle O’bummer tax on anything enjoyable?

  7. Woke me up when it’s over! I am shattered to read of today’s Royal news which apparently appeared in the online news site “The Cut”, subsidiary of a magazine which is itself a subsidiary of a billion dollar privately held media conglomerate holding proprietary advertising technology.

    Alas, the Duchess of Sussex was initially distressed that she and the Prince would not be able to buy their $14.65 million Montecito mansion featuring 9 bedrooms, 16 bathrooms, a pool, and a tennis court. They didn’t have jobs! Well, everything worked out just fine as we know such that Prince Archie and Princess Lilibet can now grow up in a normal American setting. Please do heave a sigh of relief.

    The Duke and Duchess would like the world to know they will be visiting London next week. Perhaps Her Majesty can prepare some gift envelopes to help a young family pay some new world bills?

    God save the Queen!

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