US home prices continue to rise at an accelerating pace but may be in the process of cooling down. This can have implications for consumer sentiment, hence consumer spending. In June, home prices nationally shot up 18.6 percent year-over-year. This … Continued
From the sales point of view, U.S. housing remains way below the bubble highs of a decade ago, but several other metrics have pushed into record territory. November’s existing home sales were published this week. They were up 5.6 percent … Continued
Rates are rising – probably not enough to seriously hurt sectors such as housing, but will in due course if the momentum continues. In merely nine sessions, 10-year Treasury yields have gone up by 24 basis points to 2.28 percent, … Continued
Interesting dynamics are at play in U.S. housing. Sales of both existing and new homes are decent, but price has galloped ahead. Add to that household formation and supply of homes, housing could very well be at an interesting juncture. … Continued
ITB, the iShares U.S. home construction ETF, has posted seven straight positive months. The rally began last November – post-election. Momentum is not broken, but is not in acceleration either. May was essentially unchanged – up 0.25 percent – with … Continued
U.S. households have experienced steady growth for two and a half years, but also lag vis a vis growth in several other metrics. Steep rise in home prices possibly to blame? After going sideways for nearly two years (indigo bi-directional … Continued
U.S. sales of homes – both new and existing – are at/near cycle highs. This amidst personal incomes that are struggling to rise with surging home prices. Against this background comes the recent backup in mortgage rates, particularly post-Trump victory. … Continued
U.S. household real estate has come a long way. Back in 2Q06, the market value of U.S. household real estate peaked at $22.7 trillion, before coming under sustained pressure after the bubble burst. Amazingly, in the next five years, it … Continued
In an otherwise lackluster post-Great Recession recovery, housing has provided decent support to the U.S. economy. The only question is durability – or a lack thereof. Off post-bubble lows, sales of existing homes increased from a seasonally adjusted annual rate … Continued
March sales of existing and new homes were a mixed bag, with the former up 5.1 percent month-over-month to a seasonally adjusted annual rate of 5.33 million units, and the latter down 1.5 percent m/m to 511,000 units. Post-bubble, sales … Continued