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
Buyers say plate market rejected last round of mill hikes
Participants in the domestic steel plate market said the plate market never accepted mill-issued spot price increases.
Cliffs touts steel stamping solution to replace aluminum in automotive
Cliffs said it successfully completed a defect-free trial production of exposed steel parts using aluminum-forming equipment in collaboration with an unnamed OEM,
Hot-rolled market anticipates no change despite mill mark-ups
Domestic sheet market participants say recent spot price hikes from NLMK USA and Nucor will do little to shake-up stagnant market conditions. Price increases in the current market On Friday Oct. 24, NLMK customers learned that the producer’s hot- and cold-rolled prices increased $50 per short ton (st) and its coated products were $100/st higher. […]
Market sources say regional activity is dictating plate demand
Demand for plate on the spot market remains soft by comparison to years past. However, this week regional demand variations grew more pronounced.
AISI: Raw steel production bounces back
Domestic mill production rebounded last week, according to the latest production figures released by the American Iron and Steel Institute (AISI). Production had been historically strong over the summer months before softening in early October.