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Housing Market: US: Difference between revisions
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* The S&P CoreLogic Case-Shiller price index in the US rose 2.5% year-on-year in January of 2023, the smallest increase since November of 2019, following a 4.6% rise in December<ref name=":2" /> | * The S&P CoreLogic Case-Shiller price index in the US rose 2.5% year-on-year in January of 2023, the smallest increase since November of 2019, following a 4.6% rise in December<ref name=":2" /> | ||
* The S&P CoreLogic Case-Shiller price index in the US declined 0.6% month-over-month in January of 2023, a seventh consecutive decline. <ref>https://tradingeconomics.com/united-states/case-shiller-home-price-index-mom</ref> | * The S&P CoreLogic Case-Shiller price index in the US declined 0.6% month-over-month in January of 2023, a seventh consecutive decline. <ref name=":3">https://tradingeconomics.com/united-states/case-shiller-home-price-index-mom</ref> | ||
=== February 2023 === | === February 2023 === | ||
* The S&P CoreLogic Case-Shiller rose a non-seasonally adjusted 0.2% month-over-month in February of 2023 | * The S&P CoreLogic Case-Shiller rose a non-seasonally adjusted 0.2% month-over-month in February of 2023 | ||
* The S&P CoreLogic Case-Shiller | * The S&P CoreLogic Case-Shiller edged up 0.4% yoy in February 2023, the smallest increase since 2012, compared to a 2.6% rise in January, and market forecasts of a flat reading. | ||
* Mortgage financing and the prospect of economic weakness are likely to remain a headwind for housing prices for at least the next several months. <ref>https://tradingeconomics.com/united-states/case-shiller-home-price-index-yoy</ref> | * Mortgage financing and the prospect of economic weakness are likely to remain a headwind for housing prices for at least the next several months. <ref name=":4">https://tradingeconomics.com/united-states/case-shiller-home-price-index-yoy</ref> | ||
=== March 2023 === | |||
Steep competition in the housing market and low supply are heating up home prices again. Before seasonal adjustment, prices rose in all 20 cities in March (versus in 12 in February), and in all 20 price gains accelerated between February and March.<ref>https://www.cnbc.com/2023/05/30/home-price-declines-may-be-over-sp-case-shiller-says.html</ref> | |||
* The non-seasonally adjusted S&P CoreLogic Case-Shiller home price index in the United States increased 1.5% month-over-month in March of 2023, the most since May of 2022, and following an upwardly revised 0.3% rise in February.<ref name=":3" /> | |||
* The S&P CoreLogic Case-Shiller home price index in the US fell 1.1% yoy in March 2023, the first decline since May 2012, and compared to forecasts of a 1.6% drop.<ref name=":4" /> | |||
== References == | == References == | ||