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☆ Lowe's sticks by full-year earnings forecast despite weakening sales, as spring projects offer a boost
▼ + stars: | 2023-08-22 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +3 min

Lowe's reported mixed fiscal second-quarter results on Tuesday, as consumers tackled springtime projects and helped offset weakening home improvement demand. It anticipates total sales will range between $87 billion and $89 billion for the period. It projects comparable sales will drop by 2% to 4% this fiscal year. Lowe's is more reliant on do-it-yourself shoppers for its sales than Home Depot is, but has tried to change that. Only about a quarter of Lowe's sales come from home professionals, while Home Depot typically gets about half of its sales from them.

Persons: Lowe's, Richard McPhail Organizations: Lowe's, Home, U.S . Mortgage Locations: Bloomsburg

☆ The top 20 areas real-estate investors are piling into for high population growth, increasing rental demand, or price appreciation, according to a property-data firm
▼ + stars: | 2023-08-20 | by ( Laila Maidan | ) www.businessinsider.com time to read: +5 min

When it comes to single-family homes, it's predominantly investors, according to recent data from CoreLogic, a property-data firm that tracks real-estate transactions. But whether they are small or large investors, they are targeting specific areas, according to the data. "All the others make sense as these have been hot real estate investment areas that have been hot for a very long time in terms of investment. Small investors are active all around the country and make up most of the investors, he said. The below table is based on CoreLogic public records data for single-family transactions.

Persons: Thomas Malone, Goldman Sachs, who's, Malone, upticks, There's Organizations: CoreLogic, Investor, Mega, McAllen, El, San Bernardino -, Thousand Oaks, Beaumont, UT, KS Locations: CoreLogic, California, Jose, Sunnyvale, Santa Clara, CA, Angeles, Long, Anaheim, Edinburg, Mission, Brownsville, Harlingen , TX, Atlanta, Sandy Springs, Roswell, Francisco, Oakland, Hayward , CA, El Paso , TX, Diego, Carlsbad, Fresno, Modesto, Riverside, San Bernardino, San Bernardino - Ontario, Oxnard, Ventura, Santa Rosa, Stockton, Lodi , CA, Albuquerque, NM, Port Arthur, TX, Memphis, TN, Salt Lake City, Christi , TX, Wichita

☆ Goldman Sachs: 20 Cities With Highest and Lowest Home-Price Growth
▼ + stars: | 2023-08-17 | by ( Laila Maidan | ) www.businessinsider.com time to read: +2 min

Goldman Sachs says determined home buyers aren't being deterred by higher interest rates. Strategists at Goldman Sachs no longer expect home prices to drop for the full year 2023. Homeowners who are locked into lower rates aren't likely to give that up in exchange for new property. Housing affordability has returned to its historic 2007 lows, according to Goldman Sachs' Housing Affordability Index. This means smaller, more affordable homes are increasing demand, leading to higher price growth in that part of the housing market.

Persons: Goldman Sachs, Roger Ashworth, Goldman Locations: Charlotte, Atlanta

Mortgage rates and home prices have spiked over the past couple of years, making homebuying more expensive than ever. High mortgage rates coupled with high home prices have made buying a house significantly more expensive than it's been in previous years. 5 advantages of buying a house when mortgage rates are highThere's no perfect time to buy a house. But mortgage rates are expected to drop throughout the next couple of years. According to the Mortgage Bankers Association's latest forecast, mortgage rates could drop below 5% by the end of 2024.

Persons: Freddie Mac, they're, Sarah Alvarez, You'll, Melissa Cohn, they've, Cohn, Alvarez, it's Organizations: Service, Privacy, Finance, Gallup, Census Bureau, Department of Housing, Urban, William, Mortgage Locations: Wall, Silicon

☆ The worst of the housing affordability crisis may be over, but that doesn't mean it'll get easier to buy a home soon
▼ + stars: | 2023-08-10 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The worst of the housing affordability crisis has already passed, Morgan Stanley said. Mortgage rates are expected to see a small decline while the inventory shortage improves only slightly. "Affordability remains very challenged. "Supply remains incredibly tight, but it's not getting tighter." Mortgage rates are expected to decline through the end of the year as interest rate volatility in the economy winds down.

Persons: Morgan Stanley, it's, Jim Egan, Morgan Stanley's, Egan, Price Organizations: Service, Mortgage Bankers Association, Black, National Association of Realtors Locations: Wall, Silicon

☆ Home prices in May rose for the 4th straight month with regional disparities widening
▼ + stars: | 2023-07-25 | by ( Diana Olick | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHome prices in May rose for the 4th straight month with regional disparities wideningCNBC's Diana Olick joins 'The Exchange' to discuss home prices in May rising for the fourth straight month on the S&P Case-Shiller Home Price Index, a growing regional divergence in home prices, and the lack of existing market supply for homes.

Persons: Diana Olick

☆ Here’s why home prices stayed high in May
▼ + stars: | 2023-07-25 | by ( Anna Bahney | ) edition.cnn.com time to read: +7 min

“The ongoing recovery in home prices is broadly based.”Before seasonal adjustment, prices rose in all 20 cities in May, as they had also done in March and April. Month over month, home prices rose in May for the fourth consecutive month. “Though home prices are likely to continue to cool slightly, limited inventory relative to buyer demand will likely keep prices somewhat afloat. By 1983, partly spurred by high inflation, the price rose to $75,500, and it continued rising to $126,100 by 1993. “It is worth noting that market data are coming up on last year’s record-high prices, notched during May and June,” he said.

Persons: “, ”, Craig Lazzara, “ It’s, Hannah Jones, Jones, George Ratiu, May’s, Ratiu, ” Ratiu Organizations: DC CNN, City Composites, Realtor.com, ”, National Association of Realtors, Federal Reserve Locations: Washington, Chicago, Cleveland, New York, Seattle, Las Vegas, Phoenix, Miami, Tampa , Florida, “, ’

☆ Home prices continue to climb with 'striking' regional differences, says S&P Case-Shiller
▼ + stars: | 2023-07-25 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +3 min

Home prices in May rose for the fourth straight month on the S&P CoreLogic Case-Shiller home price index, but regional differences are widening. The index's 10-city composite gained 1.1%, and the 20-city composite gained 1%. Current homeowners are reluctant to sell, given that most are paying mortgage rates that are less than half of today's rates. Demand returned after the initial jump in mortgage rates, as buyers seem to be getting used to a new normal. Correction: Home prices in May rose for the fourth straight month on the S&P CoreLogic Case-Shiller home price index.

Persons: Craig Lazzara, It's, Hannah Jones Organizations: Midwest Locations: U.S, Chicago, Cleveland, New York, Seattle, San Francisco

☆ A 10-year rally in U.S. home prices could be coming to an end, says Yale's Robert Shiller
▼ + stars: | 2023-07-24 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

"The fear of interest rate increases has influenced people's thinking — it's not just the homeowners, it's new buyers who wanted to get in before the interest rates went up even more," says Robert Shiller, professor of economics at Yale University. A decade-long rally in U.S. home prices could finally come to an end once the Federal Reserve stops its rate-hiking cycle, said Robert Shiller, professor of economics at Yale University. Home prices have made steady gains since 2012, according to the S&P Case-Shiller U.S. National Home Price Index. "The fear of interest rate increases has influenced people's thinking — it's not just the homeowners, it's new buyers who wanted to get in before the interest rates went up even more," Shiller said. Shiller noted that the index reflected "unusual behavior" in the last six months, saying prices "seemed to be fine and then it started to go up."

Persons: — it's, Robert Shiller, Shiller, that's Organizations: Yale University, Federal Reserve, Yale University . Home, National Locations: U.S

☆ What’s ahead this week for Wall Street and the economy
▼ + stars: | 2023-07-23 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

Case Shiller house price index for May and consumer confidence for July from the Conference Board. Earnings reports from AT&T, Boeing, Meta Platforms, Mattel, Stellantis and Chipotle Mexican Grill. Earnings reports from Coca-Cola, Mondelez, Honeywell, Keurig Dr Pepper, Royal Caribbean, Anheuser-Busch Inbev, Southwest Airlines and Hershey. Friday: Personal Consumption Expenditures price index for June, Employment Cost Index for the second quarter and University of Michigan consumer sentiment for July. Earnings reports from Procter & Gamble, Chevron and Exxon Mobil.

Persons: Jerome Powell, David Smith, Powell, Christopher Waller, ”, Dustin Thackeray, Tesla, Chris Isidore, —, Case, Dr Pepper Organizations: CNN Business, Bell, CNN, Fed, Traders, Rockland Trust, Big Tech, Microsoft, Meta, Crewe Advisors, Nasdaq, Netflix, Safety, Health Administration, doesn’t, Biden Administration, Bureau of Labor Statistics —, Ryanair, Federal Reserve, Conference Board, General Motors, Daniels, Midland, Verizon, PacWest, Boeing, Mattel, Honeywell, Anheuser, Busch Inbev, Southwest Airlines, Hershey, University of Michigan, Procter & Gamble, Chevron, Exxon Mobil Locations: Rockland, American, United States, PacWest Bank, Royal Caribbean

☆ Wall Street rides high into next week as traders brace for a major Fed decision and key earnings
▼ + stars: | 2023-07-21 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

The recent streak of gains in markets could be in jeopardy next week as traders come up against a big Federal Reserve meeting and earnings shift into high gear. However, markets are ramping up just ahead of several catalysts next week that could roil markets. According to the CME FedWatch Tool, 83% of traders expect monetary policymakers will be done at that point. 'Floodgate' of earnings season including tech The biggest week for earnings season is also up ahead, with results having been mixed thus far. Personal Consumption Expenditure index (June) 10 a.m.: Consumer sentiment (July final) Earnings: Exxon Mobil , Chevron , Procter & Gamble , T. Rowe Price

Persons: Jerome Powell, Hogan, Powell, Shannon Saccocia, Jackson, Yung, Yu Ma, that's, Saccocia, Northrop Grumman, Rowe Price Organizations: Reserve, Dow Jones, Riley Wealth Management, BMO Wealth Management, Big Tech, Microsoft, Chicago, P Global, PMI, GE, GE HealthCare, GM, Boeing, Hess, ADP, CME Group, eBay, Honeywell, Hershey, McDonald's, Mastercard, Northrop, Royal, Enphase Energy, Mobile, Ford Motor, Intel, Mondelez, Exxon Mobil, Chevron, Procter, Gamble Locations: Royal Caribbean

☆ Robert Shiller says more than a decade of steady gains in US house prices may be coming to an end
▼ + stars: | 2023-07-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRobert Shiller says more than a decade of steady gains in US house prices may be coming to an endRobert Shiller, Yale University professor of economics and Case-Shiller Index co-founder, says U.S. homebuyers want to 'lock in' mortgages due to the fear of higher interest rates.

Persons: Robert Shiller Organizations: Yale University

☆ Investors will be disappointed by Bernstein’s estimated stock market returns for the next decade
▼ + stars: | 2023-07-19 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Elevated stock market valuations suggest that returns for investors over the next decade could be meager, according to a Bernstein analysis. The Shiller PE or CAPE — that is, cyclically adjusted price to earnings ratio — sets the market multiple based on average inflation-adjusted earnings over the course of a decade. "The Shiller PE has historically been a good predictor of very long-run 10-year forward equity returns," the Bernstein analysts wrote. However, the firm notes that investors shouldn't forego stock market exposure even if returns are likely to be lower. Ed Yardeni of Yardeni Research said market valuations could be resetting as Big Tech companies powered by artificial intelligence dominate the market.

Persons: Bernstein, Sarah McCarthy, Mark Diver, Ed Yardeni, Yardeni Organizations: Equity, Yardeni Research, Big Tech Locations: Tuesday's

☆ Get ready for a historic slowdown in home-price growth, Goldman says
▼ + stars: | 2023-07-19 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +2 min

Goldman Sachs expects minimal growth in home prices over the next few years. Prices are likely to rise less than 2% this year and next, and less than 4% in 2025 and 2026. They may be only 4.5% above their pandemic peak, and 10.1% above their January low, by end-2026. It's worth noting that house prices surged by more than 40% during the pandemic, as the work-from-home boom stoked demand for homes. However, mortgage rates have surged over the last year, making homes less affordable to buyers and putting downward pressure on prices.

Persons: Goldman Sachs, Fortune, Goldman Organizations: Service, Federal Locations: Wall, Silicon

☆ 10 US cities where home-price growth is regressing the most as high mortgage rates worsen affordability, according to Goldman Sachs
▼ + stars: | 2023-07-14 | by ( Laila Maidan | ) www.businessinsider.com time to read: +2 min

Goldman Sachs expects price growth to decline for the rest of the year. Since it's based on a three-month moving average, the report includes data from as far back as January when mortgage rates were slightly below today's rates. "With mortgage rates now ~75bp higher, we expect some affordability-related pressures will drive weaker home price growth in coming months," Karoui wrote. Although Goldman expects mortgage rates to slip to 6.4% by year-end, the cost of financing a home will still be relatively high. The higher rates mean prospective homebuyers will face relatively higher monthly payments, putting a damper on demand and price growth in several cities.

Persons: Goldman Sachs, Lotfi Karoui, Karoui, Goldman Organizations: Federal Reserve Locations: Seattle, Las Vegas

☆ 5 US cities seeing the biggest home price gains and the 5 suffering the steepest declines as some pockets of the market become red-hot again, according to Redfin data
▼ + stars: | 2023-07-02 | by ( William Edwards | ) www.businessinsider.com time to read: +2 min

US home prices are now down only 0.9% from this time last year, Redfin reports. The housing market continues its momentum, with home prices up every month since February. After falling 5% between June 2022 and January 2023, home price are now down just 0.9% year-over-year, according to Redfin data published Thursday. "Home-price declines are shrinking," said Dana Anderson, a data journalist at Redfin, in the report. Below, we've listed the five cities that have seen the biggest year-over-year price growth, as well as the five cities that have seen the steepest declines, according to Redfin.

Persons: Dana Anderson Organizations: Cincinnati, NSA Locations: Providence , Milwaukee, Miami, Fort Lauderdale, Redfin, U.S

☆ House hunting is already tough. Guess what? It's about to get harder
▼ + stars: | 2023-06-29 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +3 min

The number of homes for sale this month was actually 7% higher than June of last year, according to Realtor.com. An even tighter housing market ahead means home prices are unlikely to cool. They began to fall because mortgage rates had doubled in a matter of months. "Despite sluggish pending contract signings, the housing market is resilient with approximately three offers for each listing," NAR's chief economist, Lawrence Yun, said in a release. Higher mortgage rates have been less of a factor, as builders, some of whom have their own mortgage arms, have been buying down rates for buyers.

Persons: Craig Lazzara, DJI, Lawrence Yun, hadn't, Peter Boockvar Organizations: Mortgage News Daily, National Association of Realtors, Census, Builders, Bleakley Financial

☆ Morning Bid: G4 central bankers speak, chips wars rumble
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +4 min

The picture was complicated further overnight as Tuesday's macro-driven rally in Wall St stocks was sideswiped by renewed Sino-U.S. trade tensions. AI darling Nvidia recoiled 4% (NVDA.O) in out-of-hours trade after reports Washington is considering new curbs on chip exports to China. But Wednesday's trading may well be dominated by news from a power panel at the European Central Bank's annual forum in Portugal. In currency markets, the dollar (.DXY) was firmer - especially against China's yuan , which hit a new low for the year. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Mike Dolan Eyeing, Jerome Powell, Christine Lagarde, Kazuo Ueda, Andrew Bailey, disinflation, Joe Biden, Wall, General Mills, Mike Dolan, John Stonestreet Organizations: Nvidia, Central, Federal, Bank of Japan, Bank of England, Wall St, Japan's Nikkei, People's Bank of China, European Central Bank, Bank of, ECB, Treasury, Micron Technology, General, General Mills New, Thomson, Reuters Locations: U.S, Wall St, Washington, China, Portugal, Australia, Canada, Chicago, Shanghai

☆ Here’s how the resilient housing market benefits our home improvement and construction stocks
▼ + stars: | 2023-06-28 | by ( Paulina Likos | ) www.cnbc.com time to read: +7 min

There are new signs of a resilient housing market and a home renovation rebirth with potentially bullish implications for three of our Club names. Shares of Stanley Black & Decker (SWK) and Caterpillar (CAT), whose tools and machinery are used in homebuilding, have been on the upswing in recent weeks. "There are a lot of projects that go on top of residential construction that require mining materials, which Caterpillar is a big player in." Discounter retailer TJX should also reap the benefits of a resilient housing market as new and existing homeowners seek to furnish their homes with high-quality branded goods at a discount. (Jim Cramer's Charitable Trust is long SWK, CAT, TJX.

Persons: Stanley Black, Decker, Brett Linzey, Stanley, Michael Shlisky, Davidson, It's, Shlisky, Stuart Millar, Miller, Lennar, Jim Cramer's, Jim Cramer, Jim, David Paul Morris Organizations: Caterpillar, TJX, Commerce Department, Conference Board, Mizuho Securities, JPMorgan, Caterpillar's, Industries, D.A, Consumers, U.S, CNBC, Bloomberg, Getty Locations: homebuilding, North America, Lennar, TJX, Maxx, Emeryville , California

CNN —Home prices rose in April for a third consecutive month, according to the latest S&P CoreLogic Case-Shiller US National Home Price Index released Tuesday. After seasonal adjustment, the national index rose 0.5% in April from March. Before seasonal adjustments, the national index rose 1.3% from March. “The US housing market continued to strengthen in April 2023,” said Craig Lazzara, managing director at S&P DJI. Low inventory is keeping prices strongAlthough mortgage rates have risen since last year, prices remain strong in part because there are fewer options available for those who can still afford to buy.

Persons: ”, Craig Lazzara, Danielle Hale, we’ve, ” Hale Organizations: CNN, Federal Reserve Locations: today’s, Realtor.com

☆ Home prices rose for third straight month in April, S&P Case-Shiller index says
▼ + stars: | 2023-06-27 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +3 min

Home prices in April were still down 0.2% compared with April 2022, according to the S&P CoreLogic Case-Shiller national home price index. A major jump in mortgage rates last summer caused a decline in prices. "The ongoing recovery in home prices is broadly based," Craig Lazzara, managing director at S&P DJI, said in a release. Before seasonal adjustments, prices rose in all 20 cities in April, as they had also done in March. Seasonally adjusted data showed prices rising in 19 cities in April versus 14 in March.

Persons: Ryan Ratliff, Ryan Paredes, Ariadna Paredes, Craig Lazzara, DJI, homebuying, Danielle Hale, Realtor.com, we've Organizations: Estate, Max Advance Realty, Cleveland Locations: Cutler Bay , Florida, Miami, Chicago, Atlanta, Boston, San Francisco

☆ Are investors ignoring the Federal Reserve’s warning?
▼ + stars: | 2023-06-25 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

CNN —Stocks fell last week as several signs pointed to the Federal Reserve continuing to hike rates this year. The Cboe Volatility Index, known as the VIX, is derived from S&P 500 index options prices and measures volatility expectations. Meanwhile, the May Producer Price Index showed that inflation at the wholesale level cooled to below its pre-pandemic average. Tuesday: Case-Shiller home price index and new home sales. Friday: May Personal Consumption Expenditures Price Index and University of Michigan June consumer sentiment and inflation expectations final reading.

Persons: CNN — Stocks, Jerome Powell, BoE, Tom Graff, Price, ”, Graff, it’s, Liz Young, Gina Bolvin, Bitcoin, Charles Schwab Organizations: CNN Business, Bell, CNN, Federal Reserve, Dow Jones, Nasdaq, Federal, Bank of England, Nvidia, Microsoft, Bolvin Wealth Management, “, Valley Bank, Signature Bank, BlackRock, EDX, Fidelity Digital Assets, Citadel, Index, University of Michigan

☆ A notorious market bear who called the 2000 and 2008 crashes says stocks are set to suffer 'profound' losses as valuations remain at historic extremes — and dismisses the current rally as a 'narrow an
▼ + stars: | 2023-06-24 | by ( William Edwards | ) www.businessinsider.com time to read: +8 min

It also doesn't offer a fair characterization of the entire S&P 500's performance. Hussman's preferred valuation measure is total market cap of non-financial stocks to total revenue of non-financial stocks. According to Bank of America, 80% of the S&P 500's returns over a 10-year period can be attributed to valuations. The red line in the chart below shows the gauge, while the blue is the S&P 500's price action. Predicted in April 2007 that the S&P 500 could lose 40%, then it lost 55% in the subsequent collapse from 2007 to 2009.

Persons: John Hussman, Hussman, hasn't, Morgan Stanley, Mike Wilson, David Rosenberg, Solita, 18.5x, it's, Jeremy Grantham, Jeremy Siegel, Siegel, Michael Kantrowitz, Piper Sandler, Piper Sandler Kantrowitz Organizations: Hussman Investment Trust, Bank of America, Rosenberg Research, UBS, University of Pennsylvania, Housing

☆ Forget about a housing market crash, Harvard researchers say. Here are the 4 reasons they say a repeat of the mid-2000s drop in home prices is unlikely.
▼ + stars: | 2023-06-24 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

They cited a strong labor market, low foreclosure rates, favorable demographics, and low supply. That was their biggest drop since the mid-2000s housing bubble, when home prices fell 27% over the course of a few years. As long as interest rates remain elevated, home price growth will likely continue to slow. First is that the labor market remains healthy. But so far this year, the labor market has continually surprised economists to the upside.

Persons: Hoff, Ian Shepherdson, Desmond Lachman —, millennials, Ellen Zentner, Morgan Stanley's, Z, it's, there's, Louis Organizations: Harvard Joint Center for Housing Studies, Harvard University, Federal Reserve, Harvard Joint Center for Housing, FHFA National Mortgage Database, Federal Reserve Bank of St, JPMorgan, Mortgage, Association

☆ Take Five: The only way is up
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: +6 min

June 23 (Reuters) - It's been a turbulent week or two for markets, with one central bank after another making it very clear the only way for rates right now is up as inflation tightens its grip on the global economy. Bad news could be taken as a positive, if traders see it as a way of pushing authorities to offer more support to the economy - as long as it eventually arrives. Make your way to the foothills of Portugal's Sintra mountains from Monday through Wednesday. The agenda is, of course, inflation, inflation, inflation. Many expect initial attempts to talk the currency higher - "jawboning", in central bank jargon - before considering whether direct intervention is needed.

Persons: It's, Yoruk, Lewis Krauskopf, Naomi Rovnick, Amanda Cooper, it's, Big Tech's, CHRISTINE, Christine Lagarde, Yannis Stournaras, Jan Harvey Organizations: Investors, Federal, Credit Suisse, Big Tech, Federal Reserve, European Central Bank, Traders, ECB, Reuters Graphics Reuters, Analysts, Thomson Locations: Portugal, Rae Wee, Singapore, Amsterdam, New York, London, U.S, Beijing, China, Portugal's Sintra, SWEDEN, Swedish

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