US Single-Family Home Prices Disappoint

US Single-Family Home Prices Disappoint

US Single-Family Home Prices Disappoint

$DIA, $SPY, $QQQ, $VXX

US single-family home prices rose less than expected on an annual basis in July, and the Y-Y gain was smaller than in the prior month, a survey showed Tuesday.

The S&P CoreLogic Case-Shiller composite index of 20 US Metropolitan areas rose 5% in July on a Y-Y basis, retreating from the 5.1% rise in June and short of the estimate calling for a 5.1% increase from a poll of economists.

“Both the housing sector and the economy continue to expand with home prices continuing to rise at about a 5% annual rate,” said the Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices.

“There is no reason to fear that another massive collapse is around the corner.”

Prices in the 20 US cities were flat in July from June on a seasonally adjusted basis, the survey showed, matching expectations.

On a non-seasonally adjusted basis, prices increased 0.6% from June.

Home prices in 3 cities, Denver, Seattle and Portland, Oregon, showed the highest Y-Y gainers, the survey showed.

Tuesday, the US major stock market indexes finished at: DJIA +133.47 at 18228.30, NAS Comp +48.22 at 5305.71, S&P 500 +13.83 at 2159.93

Volume: Trade was light with 827-M/shares exchanged on the NYSE

  • Russell 2000: +9.6% YTD
  • NAS Comp: +6.0% YTD
  • S&P 500: +5.7% YTD
  • DJIA: +4.6% YTD
HeffX-LTN Analysis for DIA: Overall Short Intermediate Long
Neutral (-0.20) Neutral (-0.17) Bearish (-0.35) Neutral (-0.08
HeffX-LTN Analysis for SPY: Overall Short Intermediate Long
Neutral (-0.03) Neutral (0.08) Bearish (-0.29) Neutral (0.12)
HeffX-LTN Analysis for QQQ: Overall Short Intermediate Long
Bullish (0.26) Bullish (0.29) Neutral (0.23) Bullish (0.25)
HeffX-LTN Analysis for VXX: Overall Short Intermediate Long
Bearish (-0.38) Neutral (-0.12) Bearish (-0.44) Very Bearish (-0.58)

Stay tuned…

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