Thursday, July 14, 2011

Home price spikes are seasonal, not a recovery

In fact, these seasonal increases were less than 1% on the Case-Shiller Index.  
Researchers with Capital Economics say no one should interpret recent home price increases to anything but a temporary uptick caused by better weather and seasonal factors.
A new report from Altos Research earlier this week showed the median national home price for all 26 markets studied by the firm at $450,358 in June, compared to $444,273 in May.
In addition, the latest Standard & Poor's/Case-Shiller 10-city composite went up 0.8% in April when compared to March, while the 20-city index grew 0.7%.
With the debt ceiling in play and phase out or elimination of the mortgage interest tax deduction AND decrease in confirming loan limits expect further pressure on home prices.

Read it all

No comments:

Post a Comment