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25.08.26 - 17:45
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New Home Sales Collapsed In July As Consumer Confidence Hit 7-Month Lows (ZeroHedge)
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New Home Sales Collapsed In July As Consumer Confidence Hit 7-Month Lows
The Conference Board's measure of Americans' Consumer Confidence fell from a revised-lower 90.2 to 89.4 in August (below the 90.2 exp) - the lowest since January.
Interestingly, under the hood, we saw Expectations plunge to January lows while Present Situation spiked from 5 year lows...
“Consumer confidence moderated slightly in August for a second consecutive month,” said Dana M Peterson, Chief Economist, The Conference Board.
“The Expectations Index slipped further into negative territory, which was offset by a moderate rise in the Present Situation Index after declining in the past three months. Consumer appraisals of current business conditions were mildly positive. Perceptions of the current labor market improved, reversing three months of moderate decline. Looking ahead, consumers were more pessimistic about business conditions and the labor market over the next six months. Expectations for household incomes...
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25.08.26 - 15:51
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US Home Prices Are Rising At Their Fastest Pace In A Year (ZeroHedge)
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US Home Prices Are Rising At Their Fastest Pace In A Year
Following its unexpected rebound in May (from three months of declines), US home prices in America's 20 largest cities were expected to rise again (+0.1% MOM) in June (according to the latest data from S&P Cotality Case-Shiller).
Instead prices actually accelerated more, up a sizable 0.24% MoM, pulling home prices up 2.1% YoY - the fastest acceleration in a year...
“Seasonal factors continue to support monthly price growth," said Rebecca Kaufman, Associate Director of Commodities at S&P Dow Jones Indices.
"Because June typically falls near the peak of the homebuying season, price appreciation often moderates and market activity cools in the months ahead."
For the fourth consecutive month, Chicago led all metros with a 6.9% annual increase in June, followed by New York (4.8%) and Cleveland (4.1%).
Meanwhile, Seattle recorded the largest annual decline at 2.0%, followed by Las Vegas (-1.9%) and Denver (-1.2%).
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25.08.26 - 01:00
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Hong Kong housing rally faces test as property flippers retreat (SCMP)
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Hong Kong's housing rally faces a new test as investors who rode the first-half rebound become less active in quick-turn trades, leaving owner-occupiers and longer-term buyers to sustain the recovery.
Secondary home prices have continued to rise, with Centaline's leading index climbing 0.64 per cent to 162.16 on Friday, its highest level in three years.
But the short-term trading that accelerated alongside the rebound has pulled back sharply: transactions involving homes held for less than a......
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24.08.26 - 20:00
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Reform would evict social housing tenants over unkempt gardens (The Guardian)
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Plan part of a wider policy to remove foreign nationals from social homes and prioritise young British-born couplesSocial housing tenants will be evicted if they fail to keep their gardens well maintained under a Reform UK government, the party has announced.Lee Anderson, the party's chair, said that if Reform came to power it would insist that those in social rented homes would be required to keep their properties decorated and gardens looked after. Continue reading......
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