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HousingIntelligence Spotlight: Salt Lake City, UT
Market Research
Written by Jonathan Smoke   
11.01.2007
Today I am venturing out west to Salt Lake City, UT, the winter sports haven conveniently located in the midst of some of the most breath-taking vistas in the U.S. Are the housing prospects for Salt Lake as bright as its world-class snow?

Salt Lake City ranks 273 out of 361 MSAs on our most recent Housing Prospects Index. That puts Salt Lake City at the very bottom of the third quartile for expected housing market performance over the next three to five years.
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Updated Reports and Neighborhood Insights Data Now Available
Market Research
Written by Jonathan Smoke   
10.31.2007
All HousingIntelligence reports have been updated to the October versions reflecting the latest actual and forecast data available.

Likewise, the Neighborhood Insights data base has been updated with the most recent county closings records.
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Are the Case-Shiller Indices Representative of the Average Market?
Economics
Written by Jonathan Smoke   
10.30.2007
The S&P/Case-Shiller indices on home prices released today that covers home prices through August painted a continuing grim picture for existing home prices in the markets covered.

According to the Standard & Poor’s press release, the indices show further declines in the prices of existing single family homes across the United States, marking the 8th consecutive month of negative annual returns and the 21st consecutive month of decelerating returns.
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HousingIntelligence Spotlight: Charlotte-Gastonia-Concord, NC-SC MSA
Market Research
Written by Jonathan Smoke   
10.26.2007
Today I decided to turn my attention to one of the markets in the country that seems to be defying most of the housing woes. The Charlotte-Gastonia-Concord, NC-SC MSA is one of the gems of the south and has benefited from growth in recent years. However, the prospects going forward reveal the need for some caution in the months ahead.

According to our most recent Housing Prospects Index, Charlotte ranks 143 out of 361 MSAs for having the best prospects for housing over the next 3-5 years. While that is definitely in the top half of the class, its prospects don’t look as great as its recent history.
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Rise in New Home Sales Not Surprising
Economics
Written by Jonathan Smoke   
10.25.2007

The Commerce Department released the preliminary new home sales data for September today along with revisions to the previously reported August sales.

New home sales in September increased 4.8% to a seasonally adjusted annual rate of 770,000 from a revised 735,000 in August. Previously the August rate of sales had been reported as 795,000.
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Expect Existing Home Inventories to Remain High
Economics
Written by Jonathan Smoke   
10.24.2007
The National Association of Realtors released the September existing home sales report today. According to the report, total existing-home sales – including single-family, townhomes, condominiums and co-ops – fell 8.0 percent to a seasonally adjusted annual rate of 5.04 million units in September from a downwardly revised 5.48 million in August.

The sales results are not surprising as they represent a continuation of what we have been seeing—existing home sales are slower and the pace appears to have slowed even further in September. While headlines are grabbing the stark contrasts to 2006 and prior, it’s actually somewhat comforting to note that despite such upheaval in the credit markets we are seeing a pace of existing home sales that we have seen before—as recently as January 2001.
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HousingIntelligence Spotlight: Denver-Aurora, CO
Market Research
Written by Jonathan Smoke   
10.23.2007
A subscriber recently asked us to focus attention on Denver, so in this post we’ll run through what our reports and data currently have to say about Denver.

I first started with a macro perspective and asked, “Is now a good time to invest in housing in Denver relative to other markets?” Looking at our Housing Prospects Index report, the Denver-Aurora, CO MSA ranks 166 out of 361 markets.
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