Welcome to the Vitus Capital Blog!
Notes to myself, possibly of interest to others.
-- Bill Northlich

Wednesday, September 1, 2010

Home Prices Rose More Than Forecast in June

The S&P/Case-Shiller index of property values increased 4.2 percent from June 2009, the group said today in New York. Themedian estimate of economists surveyed by Bloomberg News called for a 3.5 percent advance. [Bloomberg]

Bill - nb: We're talking -June- here...

Update: The problem is that the ‘newer’ data in the form of July housing data (i.e., post-tax credits), such as existing and new home sales, not to mention the August NAHB survey, were dreadful. July existing home sales plunged 27% MoM and home prices actually slipped after five months of gains and new home sales fell 12% with prices falling two months in a row. The post-tax- credit data have been so bad in fact, we think we are seeing another leg down in the housing market, not a recovery by any stretch.

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