From Goldman Sachs:
The S&P/Case-Shiller 20-city home price index remained flat in July (mom sa), below consensus expectations for a small increase. The measure still appears to be influenced by seasonal adjustment challenges, and we place more weight on the year-on-year reading, which decelerated to +2.0% from +2.2% in June and the slowest pace since August 2012. Prices rose in 17 of 20 cities (mom sa), with San Diego (+0.6%), Seattle (+0.5%), and Charlotte (+0.5%) showing the largest month-on-month increases, and New York (-0.4%), Los Angeles (-0.4%), and Washington D.C. (-0.1%) showing the largest month-on-month decreases.
The FHFA house price index increased by 0.38% in July (mom sa), and the year-over-year rate rose by 0.1pp to +5.0%. Home prices rose in all 9 regions in July, with the Mountain (+1.2%), New England (+0.8%), and Pacific (+0.5%) regions showing the largest month-on-month increases.
__
From Marketwatch August 27, 2019:
Home prices are rising at the slowest pace since 2012, Case-Shiller finds: just 2.1%
__
From Chad Hagan:
Let's chat about this for a moment. It was my impression last fall we were entering a recession. Irregardless, there are grand signals of a recession popping up in the American economy left and right. Mortgage underwriting and housing is a very fragmented in the US , so what is felt by some is not felt by all. However, it is important to note that housing coast to coast is experiences some set back, and it is largely a buyers market.
