In March, the S&P/Case-Shiller home price composite 20-city index fell for the eighth consecutive month, decreasing by 0.8% over the previous month on a non-seasonally adjusted basis (February: -1.1% month-on-month). As a result the index sits 3.6% below the value recorded in the same month last year which, in fact, represents the lowest level in over eight years, corroborating the notion of a flailing recovery in the housing market. Home prices have fallen 33.1% below the July 2006 peak. According to S&P, ?the rebound in prices seen in 2009 and 2010 was largely due to the first-time home buyers tax credit. Excluding the results of that policy, there has been no recovery or even stabilization in home prices during or after the recent recession. Further, while last year saw signs of an economic recovery, the most recent data do not point to renewed gains.?
United States Housing
Double-dip in housing market as prices tumble below the April 2009 trough
May 31, 2011
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United States Economic News
October 14, 2016
In September, nominal retail sales expanded 0.6% over the previous month.
October 7, 2016
Non-farm payrolls grew 156,000 in September, which came in below August’s upwardly-revised increase of 167,000 (previously reported: +151,000).
October 3, 2016
The ISM manufacturing index increased more than expected in September and returned to expansionary territory, after a temporary setback in August.
September 27, 2016
The S&P/Case-Shiller 20-city home composite index rose 0.6% in July over the previous month.
September 27, 2016
Following an increase in August, when the Conference Board’s consumer confidence index jumped to 101.8 points, consumer sentiment among U.S. households rose further in September.