Preview of Case-Shiller 20 House Price Index for Tuesday (Up Between 0.2% and 0.4% YoY)

Confounded Interest ^ | 08/25/2012 | Anthony B. Sanders

[whitedog57]

This coming Wednesday features a myriad of important economic, housing and mortgage reports: GDP, Pending Home Sales, Mortgage Purchase Applications, Pending Homes Sales and Corporate Profits. But on Tuesday, the Case-Shiller home prices indices will be released (and that means a busy day on TV for Yale Professor Robert Shiller).

What are we expecting for Tuesday’ Case-Shiller 20 metro home price index? In a nutshell, it will show that house prices are recovering.

FNC (blue) and FHFA (gold) have already released their home price indices last week and both show an uptick in their recent release for June 2012.

What about the Case-Shiller 20 index? On Tuesday, its is likely to show a Year-over-year increase of around 0.2% and 0.4%. For Month-over-Month, we project the Case-Shiller 20 metro index to show around 2% gain NSA for June and less than 1% growth SA.

So, house prices are indeed stabilizing in most of the US. This is great goods for underwater borrowers. Here is Zillow’s cool underwater calculator by county to see where you stand.

In terms of commercial real estate (pink), the price index peaked in Q1 2008 and then bottomed in Q1 2010. It has shown a sustained rally since the bottom and just recently slowed in the latest print of the Moody’s RCA All Property Index.

So, the housing prices are stabilizing (at least in the summer). We will continue to see shadow inventories leaked to the market as price recover.

Let’s see how the fiscal cliff impacts housing demand. Mortgage purchase applications continue to remain in the doldrums and we haven’t hit the fiscal cliff yet.

[whitedog57]

Case-Shiller may rise, but what will happen if we hit the wall of the fiscal cliff.

Check out the link to see how badly your county/city is underwater! Cool.

[oldbrowser]

Isn't this the group that admitted cooking the books for the last number of years?

[musicman]

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[BobL]

Housing prices have been “recovering” since they peaked and started crashing 6 years ago. They still have a ways to go downward while still recovering.

At least that’s what they tell us.

[houeto]

Cool inded. Thanks for the link.

Just found a 3,700 sq/ft 7 bed/5 bath brick home on .68 acres on the auction block till tomorrow. Minimum bid is $9,000. 5 pics and looked to be in pretty good shape. Only a few miles from where I live.

Wonder what that says about my area.