No slow down in May

From CoreLogic:

CoreLogic US Home Price Report Shows Prices Up 6.6 Percent in May 2017

CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released its CoreLogic Home Price Index (HPI™) and HPI Forecast™ for May 2017 which shows home prices are up strongly both year over year and month over month. Home prices nationally increased year over year by 6.6 percent from May 2016 to May 2017, and on a month-over-month basis, home prices increased by 1.2 percent in May 2017 compared with April 2017,* according to the CoreLogic HPI.

Looking ahead, the CoreLogic HPI Forecast indicates that home prices will increase by 5.3 percent on a year-over-year basis from May 2017 to May 2018, and on a month-over-month basis home prices are expected to increase by 0.9 percent from May 2017 to June 2017. The CoreLogic HPI Forecast is a projection of home prices using the CoreLogic HPI and other economic variables. Values are derived from state-level forecasts by weighting indices according to the number of owner-occupied households for each state.

“The market remained robust with home sales and prices continuing to increase steadily in May,” said Dr. Frank Nothaft, chief economist for CoreLogic. “While the market is consistently generating home price growth, sales activity is being hindered by a lack of inventory across many markets. This tight inventory is also impacting the rental market where overall single-family rent inflation was 3.1 percent on a year-over-year basis in May of this year compared with May of last year. Rents in the affordable single-family rental segment (defined as properties with rents less than 75 percent of the regional median rent) increased 4.7 percent over the same time, well above the pace of overall inflation.”

“For current homeowners, the strong run-up in prices has boosted home equity and, in some cases, spending,” said Frank Martell, president and CEO of CoreLogic. “For renters and potential first-time homebuyers, it is not such a pretty picture. With price appreciation and rental inflation outstripping income growth, affordability is destined to become a bigger issue in most markets.”

This entry was posted in Demographics, Economics, Housing Recovery, National Real Estate. Bookmark the permalink.

41 Responses to No slow down in May

  1. grim says:

    CT – Up 1.0% YOY
    DE – Up 0.4% YOY
    NJ – Up 2.4% YOY
    NY – Up 7.5% YOY
    PA – Up 3.7% YOY

    New York – Jersey City – White Plains, NY-NJ MSA – Up 3.6% YOY

  2. Grab them by the puzzy says:

    any views on Samuel Hubbard?

  3. Blue Ribbon Teacher says:

    Think we shoukd listen.

    http://www.npr.org/sections/thetwo-way/2017/07/03/535377270/stephen-hawking-trump-pushing-earths-climate-over-the-brink?

    No. His predictions are asinine and Stephen Hawking is woefully unqualified to make such predictions. The guy is more obsessed with being a celebrity than an actual scientist. That’s why he’s advocating us to colonize Mars. Mars is completely inhabitable. The atmosphere would be classified as a vacuum here on Earth. The average temperature is -55 degrees Celsius. The soil is poisonous. It’s sad that guys like Hawking and Musk can say ridiculous things that counteract simple scientific logic and the public eats it up.

    I knew a theoretical Physicist who had the most citations in Physics going back 20 years. Obviously, the guy was brilliant. Yet he was too stupid to understand that gloves didn’t need to be worn when dealing with 3% Hydrogen Peroxide as opposed to 30% hydrogen peroxide. Theoreticians do amazing work. A lot of time, they are completely devoid of simple realities.

    Meteorologist Ryan Maue called Hawking’s statements “bizarre,” and professor and environmental activist Bjorn Lomborg noted how the Paris agreement would only avert 0.2 degrees of projected global warming.

    Venus’s atmosphere is 96.5 percent carbon dioxide, which means its climate is extremely hot compared to Earth’s climate. Earth’s atmosphere is only four-hundredths of one percent carbon dioxide.

    Venus’s average surface temperature is 864 degrees Fahrenheit, while Earth’s average surface temperature from 1951 and 1980 was 57.2 degrees Fahrenheit.

  4. Steamturd supporting the Canklephate says:

    “If you’re not email negotiating before you step foot in a dealership, you’ve already lost.”

    I finally agree with Otto on sumting.

  5. Phoenix says:

    BRT,

    Based on the above it appears that humans better not take chances on keeping this planet habitable.

    Good luck with that.

    I may not be sure if we are running out of clean water, does not mean that I should let the faucet run all day.

    In America, if you gave away free electricity, every television and light would be left on. If you lowered gas prices to $0.5c, most would buy the biggest car they could afford.
    That is how it is here. We make decisions primarily on cost.

    Maybe global warming is not caused by humans. Maybe it is. Does not mean you should not try to avoid causing/increasing it.

    Recent survey showed most in the USA believe global warming is happening. Most also believe it will not affect them in their lifetime. Probably right. Leave the problem for future inhabitants. Same thing they have done with dumping chemicals and making toxic waste sites…

  6. Steamturd supporting the Canklephate says:

    Some more third world situations lately. Had two chores to perform on Monday for our big BBQ yesterday. First stop was Chase bank to deposit all the cash I made in Tahoe and a few checks. Computers were down all day. ATM would except cash but no checks. Line for ATM was 7 customers deep. Ran to Bloomfield ShopRite next to get three things. First, parking lot was at full capacity so had to park on street nearby. Once inside store, the air conditioning was not working and it had to be 85 degrees inside. Worst of all, the HVAC was pumping heat. Finally, the corn was all rotten. The tiki torch fuel was all gone even though I checked online and they supposedly had inventory. Finally, it was drizzling when I went back to my car, which I thought would be nice after being overheated from the broken AC in the store. I get half way to my car parked about 1/4 mile from the store and then the rain went from a trickle to a god’s pissed off level. Was soaked from head to toe as if I jumped in a lake. Was surprised my phone still worked. Was probably saved only from the case I keep it in. Party rocked last night, but I have like 9 burgers and 3 racks of ribs left over. Highlight of night was neighbor launching mortars at 10:30pm.

  7. Blue Ribbon Teacher says:

    Phoenix,

    I don’t deny that it’s occurring. And, as someone who’s done modeling simulations of molecular systems, I know that the phenomenon is entirely too complex with way too many inputs and variables to assign the causes to a single issue. That being said, the predicted “negative effects” are entirely overblown. Coastlines are supposed to erode and the time scale that this occurs at is entirely insignificant to the time it takes to build a city. If you look at NYC in 1917 compared to 2017, whatever happens leading into the year in 2117 is a non-issue. People act like a shifting coastline over a long time scale is Armageddon. It’s not. Moreover, I keep seeing people referencing the food supply. Last time I checked, Florida’s growing season yields more food than NJ’s does. There’s a reason why. Higher temperatures are beneficial in a lot of respects. With their projections, which I’m very skeptical of, we won’t be facing Armageddon. We’ll be growing Pineapples.

    All life adapts to any major changes in environment. A few years back, they studied a cave in Romania that was completely cutoff from the outside world. No light entering. Poisonous gas that would kill most organisms. Half of the oxygen level found in our atmosphere. Nevertheless, the thing was crawling with 50 unidentified organisms that somehow adapted to the environment. This is what always happens. Our planet has survived a gigantic meteor impact.

    Fossil fuels are finite. This won’t go on forever. The most laughable part of all of this is that the real solutions like nuclear are fought left and right by the alarmists.

  8. Chi says:

    Among many comments about global warming the most compelling to me are:
    IF it is happening
    And IF the draconian costs are affordable
    And IF The preventative technologies and actions are effective
    And IF The subject isn’t being used for political and economic gain
    Then you still have to prove it is dangerous as opposed to just living in a world that’s different than the one we are living in now

    What would a “globallywarmed”world look like? And why is that such a bad outcome ?

  9. Steamturd supporting the Canklephate says:

    Global Warming is good for Global Farming!

  10. Phoenix says:

    BRT,

    “The most laughable part of all of this is that the real solutions like nuclear are fought left and right by the alarmists.”

    Same one’s that don’t want cell towers in their neighborhood?
    Same one’s that don’t want power lines in their area?
    Same one’s that use the most power and own the most data hungry cellphones.
    The one’s with money. The one’s who feel the cellphone tower/power lines will affect their property values and radiate their children…

  11. Blue Ribbon Teacher says:

    We figured out how to inhabit Arizona in the 1800s but we’ll have trouble on the East Coast in 2100? Doubtful. Global warming alarmist have no faith in real science.

  12. Nomad says:

    Starting 2019, Volvo no longer introducing new product that runs solely on IC engines.

    Starting to think Musk’s tech platform going to be worth a lot more than I thought.

    Question: any way Tesla can buy long standing manufacturer (GM, Ford?? {or maybe Mazda or Subaru both of which need a partner}) or does some type of reverse merger and is able to legally cancel all the franchise agreements and sell direct?

  13. Steamturd supporting the Canklephate says:

    Does Volvo still exist?

  14. Chi says:

    Isn’t that a woman’s body part?

  15. No One says:

    Blue Ribbon,
    Your posts give me some slim hope that a few science teachers still actually think scientifically, rather than just regurgitating the alarmist propaganda machine’s talking points.

  16. No One says:

    Volvo owned by Geely in China. They probably see they have no way to survive longer term buying other company’s engine designs, try to go even more premium strategy by doing higher-priced BEV’s. Sign of weakness rather than strength.

  17. Steamturd supporting the Canklephate says:

    Was thinking similarly. Hey. Telling everyone what they want to hear, regardless of the likelihood of it ever occurring, is great for the stock price. If I’m not mistaken, we were supposed to have millions of Tesla’s on the road with battery exchanging stations as frequent as Burger Kings. There were to be cheap models too. Gimme 1,000 shares.

  18. No One says:

    Maybe Tesla can buy Volvo, try to get access to some distribution and service that way. I dont know the dealership legalities well.

  19. Steamturd supporting the Canklephate says:

    I’m not even sure how great an advantage it is to sell cars direct.

  20. No One says:

    Elon Musk probably lies even more than the canned pancake guy, but investors still sniff his car seat for his perfumed fragrant overpromises. Ive never seen a stock trade on promises as much as this one. So far it’s been a short-seller widowmaker. It takes a real showman to convince so many people to give you this much cash to spend on a so-far-profitless endeavor.

  21. Juice Box says:

    Chinese industrial policy is nobody will be allowed to beat them. They are ramping up 5 times the capacity of Musk’s battery plant, and will flood the markets with their cheaper li-ion batteries enough to power millions of electric cars annually. TSLA will go bankrupt before they can gain any kind of marketshare.

  22. Walking bye says:

    Insurance companies will love global warming. I would not be surprised to start seeing a few added to my home insurance similar to the fuel surcharge fee everyone was so eager to slap on when gas was $4

  23. The Great Pumpkin says:

    I’m with Phoenix. I’m glad “global warming” movement happened. Without it, god knows what I would be paying for gas. Whether it’s real or not, it put enough fear into some people that they decided to find a way off of fossil fuels without going all out nuclear. Isn’t that a good thing? We can’t continue to use fossil fuels, we will run out if it’s our only fuel source. So the fear, whether warranted or not, has done a whole lot of good in putting a ton of money in people’s pockets in the form of energy savings. This economy would be f’ed without it, inflation would be out of control and the growth would be nonexistent. Bash the alarmists all you want, but they are the real reason our economy is going to do so well. The low energy prices helped the recession recovery big time and provide the rocket fuel for future long term growth as that money helps other parts of the economy grow(like tech for example).

  24. The Great Pumpkin says:

    So we can bash musk, or acknowledge the impossible job he made happen. He is a king disruptor of industry. He was able to force the entire car industry to make the expensive investments to turn to electric/battery powered cars. Can’t knock him for that, he’s going down in history.

  25. grim says:

    I wouldn’t bet against Elon, no way, no how. You’d be nuts to try. Even his batshit crazy ideas find backers.

  26. Nomad says:

    Volvo sold 535k cars last year and are ahead of its plan to sell 800k units by 2019 or 2020, forgot which year.

    BMW is going to offer all electric X3 shortly. Toyota is giving NG vehicle a try which I think has more potential than electric. Cummins now has over the road truck engines that are NG fueled. Subaru and Mazda are in play as they don’t have the global scale to go it alone. Subie has a qwerky niche of educated affluent buyers, perhaps not as wealthy as Volvo but still at an appealing level.

    http://www.autonews.com/article/20170705/COPY01/307059936/daimler-baic-to-invest-735-million-in-china-ev-output

    http://www.autonews.com/article/20170705/COPY01/307069997/volvo-steers-toward-electrified-future

  27. Nomad says:

    BMW electric 3 series possible this fall:

    http://autoweek.com/article/rumormill/bmw-rumored-release-all-electric-3-series-fall

    Grab, Samuel Hubbard was created by the guy who founded Rockport. Guy has interesting background for someone in shoe mfg.

    http://vampfootwear.com/chip-off-old-rock-bruce-katz-reintroduces-casual-footwear-samuel-hubbard/

  28. grim says:

    There is an all electric 3 series I see all the time out here.

  29. Grab them by the puzzy says:

    yep, but want to make sure that they are worth it

    Nomad says:
    July 5, 2017 at 5:26 pm

    Grab, Samuel Hubbard was created by the guy who founded Rockport. Guy has interesting background for someone in shoe mfg.

  30. Chi says:

    Dedicated to libturd the czar of public transport

    https://m.youtube.com/watch?v=MzciIJU_HHI

  31. Chi says:

    What galls me so much about Musk is the annual capital raises that should scare off the Kool-aid drinkers. I’m sure there are plenty of examples but I’ve only ever seen penny stocks run in such a cavalier manner.

    No One says:
    July 5, 2017 at 1:27 pm
    Elon Musk probably lies even more than the canned pancake guy, but investors still sniff his car seat for his perfumed fragrant overpromises. Ive never seen a stock trade on promises as much as this one. So far it’s been a short-seller widowmaker. It takes a real showman to convince so many people to give you this much cash to spend on a so-far-profitless endeavor.

  32. The Original NJ ExPat says:

    You could have just said that Lesbi@ns drive Subarus and skipped all the beating around the bush (pun intended).

    Subie has a qwerky niche of educated affluent buyers, perhaps not as wealthy as Volvo but still at an appealing level.

  33. Grab them by the puzzy says:

    yep

    Nomad says:
    July 5, 2017 at 5:13 pm

    Subie has a qwerky niche of educated affluent buyers

  34. grim says:

    I don’t like my Honda HRV all that much, wish I bought the Crosstrek instead.

  35. D-FENS says:

    I wish I bought an AWD challenger.

  36. Njescapee says:

    Cheap gas is one of the few signs of freedom remaining for the middle class. At least one thing is going our way. Wish it was this cheap when I was driving 20k miles/ year.

  37. Math Major says:

    DFens,

    So does your local police department.

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