Property Intelligence Report
Home price growth continues and has spread to all reported markets.
Foreclosures continue to decrease.
Sales growth tapered from the previous month, quarter, and year.
We discuss the effect of supply constraints on housing.
Housing performance in July saw continued improvements in home prices. These improvements havenow spread across all reported markets for the last month and year. Sales growth tapered from theprevious reporting period. While foreclosures continue to decrease from prior reporting periods in mostreported markets.
Home price growth was positive in all of the 42 reported counties over the last month and year.
Home price growth was positive in 41 of the 42 reported counties over the last quarter.
Sales increased in 29 of the 42 reported counties over the last month.
Sales increased in 37 of the 42 reported counties over the last quarter.
Sales increased in 28 of the 42 reported counties over the last year.
Foreclosures decreased in 31 of the 42 reported counties over the last month.
Foreclosures decreased in 26 of the 42 reported counties over the last quarter.
Foreclosures decreased in 28 of the 42 reported counties over the last year.
Despite concerns about the continued strength of the recovery and job security, potential tax increases,and uncertainty about domestic fiscal issues, home price growth rates have increased and continue tospread across more of the country. The main concern about this situation is that sales volumes remainlow and it is unclear if the sharp home price increases would be happening in the presences of morenormal sales volumes. The moderate underlying fundamental home price drivers and economicuncertainty will eventually contribute to reductions in demand for housing and dampened home pricegrowth, although the timing of this is very uncertain.
Factor Comment Current Situation
Demand for Housing The level of economic activity
The July employment reportshowed job growth, but a a