Steel Markets
Case-Shiller Reports Home Price Gains in November
Written by Sandy Williams
January 28, 2020
Average home prices increased 3.5 percent year-over-year in November, according to the latest release of the S&P CoreLogic Case-Shiller National Home Price Index.
The 20-City Composite rose 2.6 percent, up from a 2.2 percent annual gain in October.
“With the month’s 3.5 percent increase in the national composite index, home prices are currently 59 percent above the trough reached in February 2012, and 15 percent above their pre-financial crisis peak,” said Craig J. Lazzara, managing director and global head of Index Investment Strategy at S&P Dow Jones Indices. “November’s results were broad-based, with gains in every city in our 20-city composite.”
“It is, of course, still too soon to say whether this marks an end to the deceleration or is merely a pause in the longer-term trend,” added Lazzara.
Low mortgage rates, tight inventories, especially for entry level homes, and strong demand led to higher prices in November.
Home prices increases were highest in the Mountain region on an annual basis but the lowest on a monthly basis. Phoenix led price appreciation with a 4.9 percent annual gain, followed by Charlotte at 4.2 percent and Tampa at 5.0 percent.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
US importers face stricter rules under revamped S232 tariffs
“CBP expects full compliance from the trade community for accurate reporting and payment of the additional duties. CBP will take enforcement action on non-compliance," the agency said in a March 7 bulletin.
Steel exports rebound in January
US steel exports recovered to a five-month high in January after having fallen to a two-year low in December. This growth follows four consecutive months of declining exports.
Construction spending drops marginally in January
Construction spending edged down slightly in January, slipping for the first time in four months. The US Census Bureau estimated spending at a seasonally adjusted annual rate of $2,196 billion in January, down 0.2% from December’s downward revised rate. The January figure is 3.3% higher than a year ago. January’s result, despite the slight erosion, […]
HVAC equipment shipments slow in December but strong annually
Shipments of heating and cooling equipment in the US fell to an 11-month low in December, according to the latest data released by the Air-Conditioning, Heating, and Refrigeration Institute (AHRI).
Apparent steel supply rebounds in December, but 2024 total at 4-year low
Apparent US steel supply rebounded in December, but 2024 was still the lowest level for supply since 2020.