[TSP_Strategy] Price Index of Home Sales

 

Charts of the Week

S&P CoreLogic Case Shiller 20-City Composite Index

Chart of the Week for September 6, 2019 - September 12, 2019

This monthly index is a three-month moving average of home selling prices in 20 metropolitan statistical areas across the U.S. Economists monitor the index to note changes in the relationship between the supply of homes for sale and the number of buyers. The chart above shows the monthly year-over-year percentage change in the index from June 2018 through June 2019.

The June year-over-year increase of 2.1% represented the 15th consecutive month of decelerating appreciation, and was the slowest growth in nearly seven years. Economists noted that housing affordability has increasingly become an issue due to a lack of inventory of homes. The inventory-to-sales ratio for existing homes in July 2019 fell to 4.2 months of supply which was near record lows. On a positive note, economists cited the recent drop in interest rates which left 30-year fixed rate mortgages near 3.9% as of mid-August. Mortgage rates were the lowest level since 2016 and help with affordability issues.

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Posted by: sarah_oz@yahoo.com

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Neither the TSP Strategy group, nor individual members, are licensed or authorized to provide investment advice. Any statements made herein merely reflect the personal opinions of the individual group member. Please make your own investment decisions based upon your personal circumstances.

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