The National Association of Home Builders Housing Market Index shows steady builder confidence in housing market conditions. September’s index reading of 68 was one point higher than August’s reading. Any reading over 50 indicates that most home builders surveyed view housing market conditions as favorable. August’s original index reading was adjusted upward by one point.
Home price growth slowed again in May according to Case-Shiller home price indices. Home price growth slowed for the 14th consecutive month to its lowest rate in 12 years. Case-Shiller’s National Home Price Index showed 3.40 percent growth year-over-year in May as compared to April’s year-over-year reading of 3.50 percent.
Case-Shiller’s 20-City Home Price Index for April showed further declines in home price growth with 2.50 percent year-over-year home price growth as compared to March home price growth of 2.60 percent. New York City home prices held steady month-to-month and Seattle, Washington’s home prices were unchanged year-over-year after posting 13 percent home price growth in 2018.