Case-Shiller

Key Events In The Coming Week: FOMC Minutes, GDP, BOC, OPEC And More

The key economic releases this week are the durable goods report and Q1 GDP revision on Friday. The minutes of the May FOMC statement will be released on Wednesday at 2PM. In addition, there are several scheduled speaking engagements by Fed officials this week

"It's Just Crazy" (Again): 2-Bedroom LA House Sells 40% Above Asking

“It can’t be sustained,” said David Berson, chief economist at Nationwide Insurance and a former chief economist at mortgage giant Fannie Mae, referring to the frenzied buying. “It can’t go on forever.” For now, however, the second housing bubble in a decade is back front and center, courtesy of the Federal Reserve once again.

New Home Sales Jump, Tied For Highest Since 2008 As Median Selling Price Rebounds

Confirming the strong housing data reported earlier by Case-Shiller which showed the fastest pace of home price appreciation since 2014, moments ago the Census reported that New Home Sales rose 5.8% in March to an annual pace of 621K units, just shy of the highest print going back to January 2008, and solidly beating expectations of a 585K print. 

US Home Prices Rise At The Fastest Pace Since July 2014

While it is unclear if the Chinese, tired of fighting regulations in Canada, are behind the latest jump in home prices, today Case-Shiller reported that its index of Top 20 cities rose at a 5.9% annual rate, the highest increase since July 2014, citing tight supply and growing housing demand.

World Stocks Hit All Time High, S&P Futures Rise To Within 1% Of Record

World stocks hit a new record high on Tuesday, with investors still cheering Macron's victory in the first round of the French presidential election, supported by speculation about U.S. tax reform and the overnight report that Trump has conceded on the border wall, eliminating a government shutdown as a potential risk.

Euphoria Returns: European Stocks Soar, Dax Hits Record; S&P Futs Surge In "French Relief Rally"

Risk is definitely on this morning as European shares soar, led by French stocks a new record high in Germany's Dax, and S&P futures up 1.2% after a "French relief rally" in which the first round of the country’s presidential elections prompted investors to bet that establishment candidate Emmanuel Macron will win a runoff vote next month. Asian stocks also surged, expect for China, which suffered its biggest drop of the year, down 1.4%, ending the streak of losses no greater than 1% going back to December.

Global Stocks, S&P Futures Little Changed On Brexit Day

Brexit day has finally arrived, and despite this major "risk event", European and Asian stocks are trading mixed, while S&P futures are just fractionally lower as a bounce on optimism over the American economy appears to have fizzled and President Trump continues to struggle to pass his legislative agenda. The pound first dipped then rose as the U.K. is set to begin its life outside the EU. 

These Are The Best And Worst U.S. Cities To Own A House

At the top, with annual price increases of 10% or more, we find the usual west coast (and thus closest to China) suspects: Seattle and Portland, followed close behind by Denver and Dallas, which appears to be enjoying the recent revival in shale.

Despite Soaring Rates, US Home Prices Accelerate At Fastest Pace In 3 Years

US Home Prices rose at 5.7% year-over-year in January, according to the latest data from Case-Shiller. This is the fastest rate of price appreciation since July 2014. The six-month lagged response to the surge in mortgage rates suggests things may be about to slow down dramatically though...

Key Events In The Coming Week

The key economic releases this week are the consumer confidence report on Tuesday, the third estimate of Q4 GDP on Thursday, and the PCE report as well as Personal Income & Spending data on Friday. In addition, there are several scheduled speaking engagements by Fed officials this week.