Tuesday, May 31, 2016

U.S. Single-Family Home Prices Soar in March

The S&P/Case Shiller composite index of single-family home prices in 20 metropolitan areas rose 5.4 percent in March on a year-over-year basis. All 20 metro areas experienced  gains.

"The economy is supporting the price increases with improving labor markets, falling unemployment rates and extremely low mortgage rates," said David M. Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices.

Home prices in three U.S. cities, Portland, Oregon (12.3%), Seattle (10.8%) and Denver (10.0%, showed the highest year-over-year gains, the survey showed.

Have I mentioned that the idea  the 25 basis point hike by the Federal Reserve in December would crash the economy is appearing to be an increasingly absurd belief?

  -RW

2 comments:

  1. Ok. Today in the real economy: Dallas Fed 17 months of contraction, Consumer confidence 10 month low, Chicago PMI back in contraction 6 out of last 12 months.

    I would request more of a balanced commentary and less reliance on the bubbles. For instance, you could address what's happening to the middle class as the economy slips into recession.

    ReplyDelete
    Replies
    1. Duh, Dallas is in the middle of an oil related downturn. It has nothing to do with the overall economy. Talk about selective data picking.

      Delete

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