Home Builder sentiment rose one point in July according to the National Association of Home Builders Housing Market Index. 2019 builder confidence in housing market condition continued to fall short of 2018 levels. July’s Housing Market Index reading of 65 was one point higher than June’s reading.
Case-Shiller’s 20-City Home Price Index for April showed further declines in home price growth with 2.50 percent year-over-year home price growth as compared to March home price growth of 2.60 percent. New York City home prices held steady month-to-month and Seattle, Washington’s home prices were unchanged year-over-year after posting 13 percent home price growth in 2018.
Last week’s economic events included weekly releases on new jobless claims, mortgage rates and testimony by Fed Chair Janet Yellen concerning the Federal Reserve’s monetary policy.
Last week’s scheduled economic news included reports on construction spending and several labor-related reports along with weekly reports on mortgage rates and new jobless claims. The details:
Last week’s economic events included S&P Case-Shiller’s home price indexes, reports on new and pending home sales and the Fed’s FOMC statement. The details: