According to the Federal Housing Finance Agency (FHFA) House Price Index® (HPI®), released today (2-22-22), U.S. house prices rose 17.5% from the fourth quarter of 2020 to the fourth quarter of 2021. House prices were up 3.3% compared to the Q3 of 2021. FHFA’s seasonally adjusted monthly index for December was up 1.2% from November.
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Consumer Confidence Declines for Second Consecutive Month in February
The Conference Board, a non-partisan, not-for-profit think tank, founded in 1916, released today (2-22-22) their Consumer Confidence Index® (CCI) for February 2022. The CCI decreased slightly in February, after a decline in January. The Index now stands at 110.5 (1985=100), down from 111.1 in January.
U.S. Home Prices Post Annual Gain of 18.8% in 2021
According to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported today (2-22-22) that home prices experienced a 18.8% annual gain in December. This matches the gain in November, but is down from a 19.0% annual gain in October and a 19.7% annual gain in September 2021.
Custom Home Building Continued to Expand in 2021
A closer look at the U.S. Census Bureau’s Quarterly Starts and Completions by Purpose and Design data, with further analysis provided by the National Association of Home Builders (NAHB), reveal the custom home building expanded in 2021 by 10.8%.
Mortgage Applications for New Home Purchases Up Month-Over-Month but Down Year-Over-Year in January
According to the Mortgage Bankers Association (MBA) Builder Application Survey (BAS) for January 2022, mortgage applications for new home purchases declined -12.5% year-over-year.
Home Prices Increase 1.5% Month-Over-Month and 19.9% Year-Over-Year in January
According to Zillow®’s, latest monthly report, home buyers will be facing another difficult shopping season. Home shoppers hoping for an injection of options and relief from heightened competition after December’s inventory drought instead saw the biggest decline in at least three years.
Townhouse Construction in U.S. Increases Quarter-Over-Quarter and Year-Over-Year in 2021
According to the U.S. Census Bureau’s data for Starts and Completions by Purpose and Design, with further analysis provided by the National Association of Home Builders (NAHB), townhouse construction increased by 28.1% in 2021. In 2020, medium-density construction lagged as housing demand shifted to more suburban and exurban areas.
Homes Sales Accelerating at Record-Breaking Pace
According to the latest report from Redfin, the Seattle-based, technology-powered real estate brokerage firm, in the four weeks ending February 13, 2022, homes sold faster than ever before. A record 57% of homes that went under contract did so within two weeks of being listed.
Existing Home Sales Increase 6.7% Month-Over-Month in January 2022
The National Association of Realtors® (NAR) reported on Friday (2-18-22) that total existing home sales (completed transactions for single-family homes, townhomes, condominiums, and co-ops) rose 6.7% in January from December to a seasonally adjusted rate at 6.50 million homes.
U.S. Leading Economic Index® Declines in January 2022
The Conference Board, a non-partisan, not-for-profit think tank founded in 1916, released today (2-18-22) the Leading Economic Index® (LEI) for the U.S. in January 2022. According to the report, the LEI for the U.S. decreased by -0.3% in January to 119.6 (2016 = 100), following a 0.7% in increase in December and a 0.8% increase in November.