Steel Markets
Case Shiller: Home Prices Strong in February Before Virus Shutdowns
Written by Sandy Williams
April 27, 2020
Home prices continued to increase in February before the coronavirus shutdowns, gaining 4.2 percent annually, according to the latest S&P CoreLogic Case Shiller U.S. National Home Price NSA Index.
The 20-city composite grew 0.4 points for a 3.5 percent year-over-year gain. Prices were strongest in the West and Southeast and comparatively weaker in the Midwest and Northeast. Phoenix topped the list with a 7.5 percent year-over-year price increase, followed by Seattle with a 6.0 percent increase, and Tampa and Charlotte with 5.2 percent increases. Higher prices were reported in 17 of the 20 cities in the composite.
“Importantly, today’s report covers real estate transactions closed during the month of February, and shows no signs of any adverse effect from the governmental suppression of economic activity in response to the COVID-19 pandemic,” said Craig Lazzara, managing mirector and global head of Index Investment Strategy at S&P Dow Jones Indices. “As much of the U.S. economy was shuttered in March, next month’s data may begin to reflect the impact of these policies on the housing market.”
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
US steel exports rise to 12-month high in August
The amount of steel exiting the country in August reached the highest monthly rate recorded since August 2023.
Worldsteel lowers short-term forecast for global steel demand
The World Steel Association (worldsteel) has made significant downward revisions to its Short Range Outlook for global steel demand.
US steel imports tick up in August, fall again in September
August steel imports totaled 2.38 million short tons (st) according to final data released this week by the US Commerce Departmen
Dodge Momentum drops on moderating data center growth
Slowing growth in data center planning caused the Dodge Momentum Index (DMI) to pull back in September. The decline followed five months of growth after the index hit a two-year low in March.
US construction spending drops again in August
Construction spending in the US declined for a third month in August but showed an increase year over year (y/y). The US Census Bureau estimated construction spending to be $2.131 trillion in August on a seasonally adjusted annual rate (SAAR). While this was 0.1% below July’s revised spending rate, it was 4.1% higher than spending […]