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Posts Tagged ‘david blitzer’

  • U.S. home prices rose 4.3 percent year-over-year, according to the S&P/Case Shiller Home Price Index released today, but New York City was one of only two markets where home prices declined year-over-year — with the market seeing a 1.2 percent year-over-year decrease, and a 0.4 percent month-over-month decrease. The index declined a modest 0.1 percent in October, from the previous month…. [more]

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    U.S. home prices rose for the sixth consecutive month in September, according to the S&P/Case Shiller Home Price Index released today, but New York City was one of only two markets where home prices declined year-over-year.

    The national composite of home prices gained 3.6 percent year-over-year from the third quarter of 2011, returning to levels seen in mid-2003. “With six months of consistently rising home prices, it is safe to say that we are now in the midst of a recovery in the housing market,” said David Blitzer, chairman of the index committee at S&P Dow Jones Indices, the publisher of the index. [more]

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  • The S&P/Case Shiller Home Price Index climbed for the seventh consecutive month. It was up 0.9 percent — a sign of continued improvement in the health of the market for single family homes in the United States. The uptick was slightly larger than economists had predicted, according to the report cited by Reuters.

    Prices in the 20 cities measured by the index climbed 2 percent year-over-year, Reuters reported. The numbers were released today.  [more]

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  • U.S. housing market data is mixed bag

    April 24, 2012 01:30PM

    In February, the housing market showed mixed signals, with annual declines of 3.6 and 3.5 percent for the 10- and 20-city composites, respectively, according to the Standard & Poor’s/Case-Shiller home price indices for January, released today. Of the 20 metropolitan statistical areas the survey covered, 15 showed better annual returns in February compared to January, however, nine metropolitan statistical areas — Atlanta, Charlotte, Chicago, Cleveland, Las Vegas, New York, Portland, Seattle and Tampa — hit new post-crisis lows, according to the report. [more]

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    The Standard & Poor’s/Case-Shiller Home Price Index hit the housing industry with a double dose of bad news in a report released today. Not only did the report show a decline 0.6 percent in September compared to August in the 20 cities covered, but August’s index was downwardly revised to show a price decline in that month as well, despite a previously reported uptick.

    The national index rose just 0.1 percent at the end of the third quarter of 2011 from the level recorded in the second quarter. Further the index reported an annual price decline of 3.9 percent, a slight improvement from the second quarter year-over-year decline of 5.8 percent. – Adam Fusfeld[more]

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  • U.S. home prices inch up in August

    October 25, 2011 10:14AM

    For the fifth consecutive month, the Standard & Poor’s/Case-Shiller
    Home Price Index rose in August, indicating slight increases in
    nationwide home prices. The 10-city and 20-city composites inched up
    about 0.2 percent on a non-seasonally-adjusted basis over the previous
    month, but remained unchanged when accounting for seasonal changes. The
    20-city composite now stands at 142.84, 3.8 percent less than its August
    2010 reading of 148.89.
    The index is calibrated so that a score of 100 equals housing prices in January 2000. It peaked at 206.52 in July 2006.
    Half of the 20 metropolitan areas polled showed increased housing prices
    on a month-over-month basis, while 16 of them posted better annual
    returns than they did in July.  – Adam Fusfeld[more]

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  • National home prices are continuing to exhibit seasonal strength, according to the S&P/Case-Shiller Home Price Indices’ data through July, released today. This marks the fourth consecutive month of increases for 10- and 20-city composites, with both up 0.9 percent in July over June. Both indices are back to their summer 2003 levels.

    “With July’s data, we are seeing not only anticipated monthly increases, but some fairly broad improvement in the annual sales rates of change in home prices,” said David Blitzer, chairman of the index committee. “This is still a seasonal period of stronger demand for houses, so monthly price increased are expected and were seen in 17 of the 20 cities [in the report].” – Katherine Clarke[more]

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  • Source: Case-Schiller

    U.S. national home prices are back to 2003 levels, having increased by 3.6 percent in the second quarter of 2011, after falling 4.1 percent in the first quarter of 2011, according to data released today by S&P Indices for its S&P/Case-Shiller Home Price Indices. Prices still posted an annual decline of 5.9 percent versus the second quarter of 2010. “This month’s report showed mixed signals for recovery in home prices. No cities made new lows in June 2011, and the majority of cities are seeing improved annual rates,” said David Blitzer, chairman of the Index committee. “As with May’s report, June showed unusually large revisions across the same [Metropolitan Statistical Areas] — Detroit, New York, Tampa and Washington DC. -- Katherine Clarke[more]

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  • There has been a month-over-month decrease in national default rates for first and second mortgages, with second mortgage default rates dropping from 1.4 percent to 1.25 percent in July, according to Consumer Credit Default Indices by Standard & Poors/ Experian.

    First mortgage and bank card default rates decreased to 1.93 percent and 5.64 percent from June rates of 2.02 percent and 5.69 percent, respectively. Auto loan default rates dropped slightly from 1.29 percent in June to 1.27 percent in July.

    “By and large, July’s data support the downward trend we have observed over the past two years. Despite high unemployment rates, consumers continue to improve their financial positions, resulting in lower default rates than we were seeing during the recession,” said David Blitzer, managing director and chairman of the index committee. “All indices show default rates well below where they were in 2008 and 2009.” – Katherine Clarke[more]

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  • For the first time in 11 months, U.S. housing prices increased month-over-month for a second consecutive time in May 2011, according to the latest data from the Standard & Poor’s Case-Shiller U.S. National Home Price Index released today. The 20-city composite rose 1 percent from April to 140.95 — roughly the equivalent to housing prices earlier in the recession, in May 2009, and before the peak in June 2003; all metropolitan areas excepting Detroit, Las Vegas, Tampa and Phoenix posted housing price gains. Despite the modest price increases, the 20-city index is 4.5 percent below where it stood in May 2010, as 19 of the metropolitan areas posted losses, led by Minneapolis, Phoneix, Portland, Tampa and Detroit where prices plummeted at least 9 percent. Only Washington, D.C. posted a year-over-year gain, as prices rose 1.3 percent. — Adam Fusfeld[more]

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  • After sinking to their lowest crisis level in March, national housing prices posted modest gains in April, according to the latest Standard & Poor’s Case-Shiller U.S. National Home Price Index released today. The 20-city composite jumped 0.7 percent from March’s seasonally adjusted rate, and the index now stands at 138.84 where an index of 100 equals home prices in January 2000. Housing prices in April 2011 are roughly where they stood during the summer of 2003, and remain 4 percent below the 20-city composite in April 2010. “In a welcome shift from recent months, this month is better than last – April’s numbers beat March,” said David Blitzer, chairman of the Index Committee at S&P Indices. – Adam Fusfeld[more]

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  • National housing prices have hit a new low, and economists believe the descent is far from over. House prices fell 4.2 percent in the first quarter of 2011, according to Standard & Poor’s Case-Shiller U.S. National Home Price Index, following a 3.6 percent decline in the first quarter of 2011. The index’s 20-city composite now stands at 138.16 (compared to the January 2000 basis of 100), more than 1 point below the previous recession low of 139.26 recorded in April 2009, and equal to national housing values in mid-2002. TRD[more]

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    New York City-area home prices remained relatively flat in January, according to the S&P/Case-Shiller Home Price Index, released today. The report, which does not take condominium or co-op units into account, shows a 0.9 percent drop in home prices month-over-month (see full report below). Prices are down 3 percent from the same time period a year ago. This performance is in line with the overall momentum in the housing market nationwide. The index’s 20-city composite dropped 1 percent month-over-month and declined 3.1 percent from January 2010. David Blitzer, chairman of S&P’s Index Committee, said that the data show a protracted real estate slump. “The housing market recession is not yet over, and none of the statistics are indicating any form of sustained recovery,” Blitzer said. “At most, we have seen all statistics bounce along their troughs; at worst, the feared double-dip recession may be materializing.” TRD

    S&P Report[more]

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  • S&P/Case-Shiller: “No good news”

    December 28, 2010 10:12AM

    (Source: S&P/Case-Shiller)

    The decline in New York-area home prices quickened in October, dropping 1.6 percent month-over-month, according to the latest S&P/Case-Shiller Home Prices Indices, released this morning. It was the second straight monthly decline for home prices in the region, where September brought a 0.5 percent month-over-month dip. It was trend echoed nationwide, as all 20 cities surveyed registered decreases in their October home prices, when compared to September. “The double-dip is almost here,” Index Committee Chairman David Blitzer said ominously in a statement accompanying the new data. “There is no good news in October’s report.” TRD[more]

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  • U.S. home prices declined 2 percent in the third quarter of 2010, after rising 4.7 percent in the second quarter, according to data released today by Standard & Poor’s/Case-Shiller Home Price Index. Nationally, home prices saw a 1.5 percent year-over-year decrease, the report shows. While housing prices are still above their spring 2009 lows, the end of the tax incentives and still active foreclosures appear to be weighing down the market, experts said. “The national economy is still the number one issue for housing,” said David Blitzer, chairperson of the Index Committee at S&P. “Additionally, there is a large supply of houses on the market and further, hidden, supply due to delinquent mortgages, pending foreclosures or vacant homes.” TRD[more]

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  • S&P/Case-Shiller report paints region as one of few bright spots in a weakened U.S. market

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  • David Blitzer

    Home prices in the New York City metropolitan area have remained relatively flat, according to Standard & Poor’s May home price index. The region’s level on the index climbed .8 percent from April’s level, but declined .4 percent compared to May 2009. Nationwide, the 10- and 20-city indices showed more marked change, climbing 1.2 percent and 1.3 percent month-over-month, respectively. Compared to May 2009 levels, the 10-city composite climbed 5.4 percent and the 20-city composite climbed 4.6 percent. While the nationwide upward momentum is welcome news, David Blitzer, a managing director with S&P, said that the figures were likely influenced by the first-time homebuyer tax credit, which expired at the end of April. “We need to watch where the housing market will go after these temporary stimuli go away,” Blitzer said. TRD

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  • David Blitzer

    Home prices in the New York City metropolitan area have remained relatively flat, according to Standard & Poor’s May home price index. The region’s level on the index climbed .8 percent from April’s level, but declined .4 percent compared to May 2009. Nationwide, the 10- and 20-city indices showed more marked change, climbing 1.2 percent and 1.3 percent month-over-month, respectively. Compared to May 2009 levels, the 10-city composite climbed 5.4 percent and the 20-city composite climbed 4.6 percent. While the nationwide upward momentum is welcome news, David Blitzer, a managing director with S&P, said that the figures were likely influenced by the first-time homebuyer tax credit, which expired at the end of April. “We need to watch where the housing market will go after these temporary stimuli go away,” Blitzer said. TRD

    [more]

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  • David Blitzer

    New York City area home prices remained relatively flat in April, according to the Standard & Poor’s/Case-Shiller Home Price Index, which measures monthly home price changes in 20 U.S. metropolitan regions. In April, New York City-area’s home prices declined 1 percent on the index, compared to April 2009, and dropped .3 percent compared to March. Some New York City area real estate experts have questioned the report’s validity in their market, since it doesn’t include co-ops or condos in its report. Nationwide, despite the uptick in market activity due to the expiration of the first-time homebuyer tax credit, home prices showed only modest improvement in April, compared to the same month a year earlier. The 10-city composite was up 4.6 percent in the report, while the 20-city composite was up 3.8 percent over April 2009. David Blitzer, chairman of the index committee at Standard & Poor’s, suggested that the improvement in nationwide data was due in large part to a drastic improvement in California — where San Diego and San Francisco both saw double-digit improvements year-over-year — and not a nationwide shift. “Home price levels remain close to the April 2009 lows,” Blitzer said. “Consistent and sustained boosts to economic growth from housing may have to wait to next year.”

    [more]

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  • David Blitzer

    New York City area home prices remained relatively flat in April, according to the Standard & Poor’s/Case-Shiller Home Price Index, which measures monthly home price changes in 20 U.S. metropolitan regions. In April, New York City-area’s home prices declined 1 percent on the index, compared to April 2009, and dropped .3 percent compared to March. Some New York City area real estate experts have questioned the report’s validity in their market, since it doesn’t include co-ops or condos in its report. Nationwide, despite the uptick in market activity due to the expiration of the first-time homebuyer tax credit, home prices showed only modest improvement in April, compared to the same month a year earlier. The 10-city composite was up 4.6 percent in the report, while the 20-city composite was up 3.8 percent over April 2009. David Blitzer, chairman of the index committee at Standard & Poor’s, suggested that the improvement in nationwide data was due in large part to a drastic improvement in California — where San Diego and San Francisco both saw double-digit improvements year-over-year — and not a nationwide shift. “Home price levels remain close to the April 2009 lows,” Blitzer said. “Consistent and sustained boosts to economic growth from housing may have to wait to next year.”

    [more]

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