Market Outlook

Case-Shiller: February Home Prices Gained Before Coronavirus Outbreak

Home prices continued to grow in February according to the Case-Shiller Home Price Indices. National home prices grew at a seasonally-adjusted annual pace of 4.20 percent as compared to national home price growth of 3.90 percent in January. Case-Shiller's 20-City Home Price Index showed higher home price growth rates in February with average annual home price growth of 3.50 percent. January home prices grew by 3.10 percent for cities included in the 20-City Index.

By |2020-04-30T08:00:59-04:00April 30th, 2020|Market Outlook|Comments Off on Case-Shiller: February Home Prices Gained Before Coronavirus Outbreak

NAHB: Home Builder Confidence Near 1999 High

The National Association of Home Builders reported a housing market index reading of 74 in February; the index reading was one point lower than for January and was only two points below the highest reading of 76 reported in December. Readings over 50 indicate that most builders consider housing market conditions to be positive.

By |2020-02-20T05:00:00-05:00February 20th, 2020|Market Outlook|Comments Off on NAHB: Home Builder Confidence Near 1999 High

FOMC Statement: Key Fed Rate Unchanged; Policymakers Monitor Impact of Asian Flu Outbreak

The Federal Open Market Committee of the Federal Reserve issued its scheduled post-meeting statement Wednesday. Policymakers unanimously decided to leave the target federal funds rate range unchanged at 1.50 to 1.75 percent.

By |2020-01-31T05:00:00-05:00January 31st, 2020|Market Outlook|Comments Off on FOMC Statement: Key Fed Rate Unchanged; Policymakers Monitor Impact of Asian Flu Outbreak

Case-Shiller Reports Growth In Home Prices In November

Case-Shiller Home Price Indices reported that national growth of home prices rose by 0.30 percent in November. Analysts said that slim inventories of available homes boosted home prices. Whether or not home price growth continues gaining speed depends on variables including supplies of homes for sale, affordability and home-buyer confidence in the economy.

By |2020-01-29T05:00:00-05:00January 29th, 2020|Market Outlook|Comments Off on Case-Shiller Reports Growth In Home Prices In November

FOMC Statement: Fed Holds Steady On Its Interest Rate Range

The Federal Open Market Committee of the Federal Reserve announced its unanimous decision not to change to the current target federal funds range of 1.50 to 1.75 percent. The committee's customary post-meeting statement said the decision not to change the Fed's target range for federal funds was based on factors including a strong labor market, moderate economic growth, continued job growth, and low unemployment.

By |2019-12-11T21:00:00-05:00December 11th, 2019|Market Outlook|Comments Off on FOMC Statement: Fed Holds Steady On Its Interest Rate Range

Case-Shiller: July Home Price Growth Hits Lowest Pace in 12 Years

Case-Shiller's National Home Price Index reported U.S. home prices grew by 3.20 percent year-over-year in July; as compared to year-over-year home price growth 0f 3.00 percent posted in June. Cities with the highest rates of year-over-year home price growth were Phoenix, Arizona with 5.80 percent year-over-year home price growth. Las Vegas, Nevada had 4.70 percent year-over-year home price appreciation and Charlotte, North Caroline bumped Tampa, Florida from the top three cities with home price appreciation of 4.60 percent. Tampa, Florida posted 4.50 percent year-over-year home price growth in July.

By |2019-09-26T12:00:00-04:00September 26th, 2019|Market Outlook|Comments Off on Case-Shiller: July Home Price Growth Hits Lowest Pace in 12 Years

Fed Policymakers Cut Key Rate Range by .25 Percent

The Federal Reserve's Federal Open Market Committee reduced its key short-term interest rate range one-quarter percent to 1.75 to 2.00 percent during it's September meeting. While FOMC members had mixed opinions on reducing the benchmark rate range for short term loans, the post-meeting statement suggested that reducing the federal funds rate was a hedge against inflation. The federal funds rate impacts short-term consumer loan rates for autos and adjustable rate mortgages, but does not impact fixed mortgage rates. FOMC monetary policy decisions are governed by the Federal Reserve's dual mandate of maintaining price stability and an inflation rate of 2.00 percent.

By |2019-09-19T12:00:00-04:00September 19th, 2019|Market Outlook|Comments Off on Fed Policymakers Cut Key Rate Range by .25 Percent

NAHB: Home Builders Remain Confident

The National Association of Home Builders Housing Market Index shows steady builder confidence in housing market conditions. September's index reading of 68 was one point higher than August's reading. Any reading over 50 indicates that most home builders surveyed view housing market conditions as favorable. August's original index reading was adjusted upward by one point.

By |2019-09-18T12:00:00-04:00September 18th, 2019|Market Outlook|Comments Off on NAHB: Home Builders Remain Confident

Case-Shiller: Home Prices Growth Slows in March

Home price growth slowed again in May according to Case-Shiller home price indices. Home price growth slowed for the 14th consecutive month to its lowest rate in 12 years. Case-Shiller's National Home Price Index showed 3.40 percent growth year-over-year in May as compared to April's year-over-year reading of 3.50 percent.

By |2019-08-01T12:00:00-04:00August 1st, 2019|Market Outlook|Comments Off on Case-Shiller: Home Prices Growth Slows in March

NAHB: Housing Market Index Rises 1 Point in July

Home Builder sentiment rose one point in July according to the National Association of Home Builders Housing Market Index. 2019 builder confidence in housing market condition continued to fall short of 2018 levels. July's Housing Market Index reading of 65 was one point higher than June's reading.

By |2019-07-17T12:00:00-04:00July 17th, 2019|Market Outlook|Comments Off on NAHB: Housing Market Index Rises 1 Point in July

Fed Holds Key Rate Steady As It Watches Economic Trends

Federal Reserve policymakers held the federal funds rate at its current range of 2.25 to 2.50 percent. Analysts speculated that the Fed may lower its key rate based on signs of slowing economic growth and the President's encouragement to lower the Fed rate.

By |2019-06-25T12:40:12-04:00June 25th, 2019|Market Outlook|Comments Off on Fed Holds Key Rate Steady As It Watches Economic Trends

NAHB: Builder Confidence Slips in June

Homebuilder confidence dropped two points in June according to the National Association of Home Builders Housing Market Index. June's index reading was 64, which indicates strong sentiment among home builders for current housing market conditions.

By |2019-06-20T12:40:11-04:00June 20th, 2019|Market Outlook|Comments Off on NAHB: Builder Confidence Slips in June