It's The Economy Stupid: Building & Housing Stuff

Economic Event	Period	Economic Survey	Actual Reported	Original Prior	Revised Prior
Building Permits	Sep	935K	974K	918K	926K
Building Permits MoM	Sep	--	5.2%	-3.8%	-2.9%
Building Permits	Oct	930K	1034K	--	974K
Building Permits MoM	Oct	--	6.2%	--	5.2%
S&P/CS 20 City MoM SA	Sep	0.9%	1.03%	0.93%	0.9%
S&P/CS Composite-20 YoY	Sep	13.0%	13.29%	12.82%	12.8%
S&P/CaseShiller Home Price Index NSA	Sep	165	165.66	164.53	164.5
S&P/Case-Shiller US HPI YoY	3Q	--	11.18%	10.08%	9.93%
S&P/Case-Shiller US HPI NSA	3Q	--	150.92	146.32	146.29
House Price Index MoM	Sep	0.40%	0.30%	0.30%	0.40%
House Price Purchase Index QoQ	3Q	2.00%	1.96%	2.10%	2.33%

 

     Home prices in 20 U.S. cities rose by the most since February 2006 in the 12 months through September, showing the housing market sustained progress even as borrowing costs climbed.

     The S&P/Case-Shiller index of property values advanced 13.3 percent after increasing 12.8 percent a month earlier, the group said today in New York. The median forecast in a Bloomberg survey of 31 economists called for a 13 percent advance.

     Sellers are standing firm on asking prices as buyers compete for a limited number of available properties. Higher home values are helping propel gains in Americans’ net worth, boosting confidence among homeowners and creating momentum for consumer spending. Bloomberg survey estimates ranged from increases of 12.4 percent to 13.5 percent. The S&P/Case-Shiller index is based on a three-month average, which means the September data were influenced by transactions in July and August.

     Other figures showed more applications for home construction were issued in October than at any time in the past five years. Building permits increased 6.2 percent last month to a 1.03 million annualized rate, the most since June 2008, the Commerce Department said today.

     Figures for housing starts, which usually accompany the permits data, are delayed until Dec. 18 because last month’s government shutdown kept the agency from gathering the data in time.

 

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Somedays you're the pigeon, somedays you're the statue.

 

John Broussard

Assistant State Treasurer

Chief Investment Officer

State of Louisiana

Department of the Treasury

225-342-0013

jbroussard@treasury.state.la.us