House prices rose a seasonally adjusted 0.1% in January the S&P CoreLogic Case-Shiller 20-city index showed. Price gains were 3.6% higher compared to a year ago. However that is the slowest annual growth since 2012 with a monthly decline for the third-straight month.
U.S. Existing Home Sales Plummet to Three Year Low
US existing home sales tumbled 4.99M v 5.24M expected, down -6.4% v -1.5%. Mortgage data has been stronger in 2019 so perhaps housing numbers pick up in the coming months with the Fed being flexible on rates.
American Household Wealth Grows $2.19 Trillion to New Record
Higher property and stock prices have pushed Americans household wealth to record highs. U.S. President Trump may be the most divisive President in history but the Federal Reserve shows Americans are getting weathier with him.
U.S. Housing Starts Down 12.3% To 9 Month Low as Rates Rise
US housing starts in June fell 12.3% to 1173k reversing the May surge of 1337K which was a 11 year high. Mortgage data was also weak today. Housing numbers have been falling for a few months after a big jump in 2017 with the Fed raising rates.
U.S. Housing Starts Hit 11 Year High as Building Permits Fall
US May housing starts rose more than expected to 1350K vs 1311K expected, a rise of 5% to 11 year highs. However building permits fell 4.6%. Housing numbers have been falling for a few months after a big jump in 2017 with the Fed raising rates.
Property Main Source of Wealth Creation in Australia
Australia’s annual BRW rich list is out and not surprising property is the main source of wealth creation in Australia at this time. Carboard and recycling magnate Anthony Pratt is Australia’s wealthiest but property was the source of 51 of the top 200 rich list.
U.S. Housing Starts Fall 7% in Feb
US February housing starts fell more than expected to 1236K vs 1290K expected, a fall of 7% vs a fall of 2.7% expected. Housing numbers have been falling for a few months after a big jump in 2017 and the Fed rising rates. Permits were also weaker.
US Mortgage Rates Highest Since Jan 2014, Applications Fall 4%
With all the noise from Wall Street execs and their bonuses the landscape isn’t looking so shiney for main street. We have had the stress of the biggest stock market point crash ever and now we see 30 year loans are at their highest since Jan 2014. no wonder applications 4.1%
Lennar $LEN & CalAtlantic $CAA nearly $10B merger will create the country’s largest homebuilder
Lennar and CalAtlantic merger in nearly $10B deal will create the country’s largest homebuilder, with LTM revenues topping $17B and a market cap of roughly $18B. The new company will control 240K homesites, with 1.3K active communities in 49 markets across 21 states.
Toronto Homes Sales Down 35% on Year
Home sales in the Greater Toronto Area fell 35% in September year on year, however the average price rose 5.9 % from CAD $732,039 in August for the first month-over-month increase since the April record high of CAD $918,285 the Toronto Real Estate Board said Wednesday.