This week’s key housing market data releases:
- 9/22/09: The Federal Housing Finance Agency (FHFA) announced that US Housing Prices rose 0.3% from June to July.
- 9/24/09: The National Association of REALTORS® (NAR) announced that sales transactions fell by 2.7% in August and that the median price of dropped by 12.5%.
- 9/29/09 (upcoming): The S&P/Case-Shiller Home Price Index for July 2009 will be released (it is released on the last Tuesday of each month).
Back on September 8, the Altos Research Real-Time Housing Market Update reported that:
- The Altos Research 10-City Composite Index was down by 0.6% in August and up just 0.4% during the most recent three-month period.
- In August, housing prices edged lower in most markets reflecting the beginning of the traditionally slow fall and winter months.
- The Altos 10-City Composite Index now shows that the season spring buying season, and economic stimulus have run their course. Prices have declined weekly for 12 weeks.
We expect that the S&P/Case-Shiller Home Price Index for July 2009 will be flat or marginally higher based on our leading housing market indicators. The Altos Research 10-City Composite Index, reported in the August 2009 update our our Housing Market Update, was up by 0.9% in July and 2.2% during the most recent three-month period.
Heed caution for August.