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This Week's Montgomery County Mortgage News - March 31, 2014
This Week's Montgomery County Mortgage News - March 31, 2014
 
Last week's economic news includes several reports about housing markets. The S&P Case-Shiller 10 and 20 city housing market indices, the FHFA House Price Index, New Home Sales and Pending Home sales reports suggest that the national housing market continues to grow, but at lower rates. Regional readings varied and suggested that winter weather was a negative influence on affected markets.
 
In a press conference held on March 19 Federal Reserve Chair Janet Yellen said that severe winter weather had interfered with the Fed's ability to get a clear reading on economic developments. The Case-Shiller 10 and 20-City Home Price Indices for January showed year-over-year growth of 13.50 and 13.20 percent respectively. The 20-City Home Price Index reported that 12 of 20 cities reported slower rates of home price appreciation. The 10-City Index ticked upward, but was little changed. The 20-City index posted its third consecutive month-to-month decline in home prices with a reading of -0.10 percent. Las Vegas, Nevada led cities posting gains with a month-to-month reading of +1.10 percent, but home values remain 45 percent below peak prices achieved in August 2006. David M. Blitzer, chair ... more

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