Monday , March 1 2021
Home / Calculated Risk / Zillow Case-Shiller House Price Forecast: "Gathering Speed", 10.3% YoY in December

Zillow Case-Shiller House Price Forecast: "Gathering Speed", 10.3% YoY in December

Summary:
The Case-Shiller house price indexes for November were released today. Zillow forecasts Case-Shiller a month early, and I like to check the Zillow forecasts since they have been pretty close.From Matthew Speakman at Zillow: November Case-Shiller Results & December Forecast: Gathering SpeedGrowth in home prices continued to climb in November, gathering speed before the end of the year and setting the stage for a full out sprint in 2021. ...Buoyed by record-low mortgage rates, which continued to plumb new depths back in November, a wave of eager would-be homebuyers poured into the market, further stoking the competition for homes that has been red-hot since the late spring. Homes flew off the market as a result and prices shot upward at their fastest pace in years. Even as the pandemic

Topics:
Calculated Risk considers the following as important:

This could be interesting, too:

Calculated Risk writes Monday: ISM Manufacturing, Construction Spending

Reuters writes China’s manufacturing activity growth slips to lowest level since May

Alison Tudor-Ackroyd writes China electric-vehicle war: top 5 investment funds in electric vehicles to watch out for in 2021

Calculated Risk writes February 28 COVID-19 Test Results and Vaccinations

The Case-Shiller house price indexes for November were released today. Zillow forecasts Case-Shiller a month early, and I like to check the Zillow forecasts since they have been pretty close.

From Matthew Speakman at Zillow: November Case-Shiller Results & December Forecast: Gathering Speed
Growth in home prices continued to climb in November, gathering speed before the end of the year and setting the stage for a full out sprint in 2021.
...
Buoyed by record-low mortgage rates, which continued to plumb new depths back in November, a wave of eager would-be homebuyers poured into the market, further stoking the competition for homes that has been red-hot since the late spring. Homes flew off the market as a result and prices shot upward at their fastest pace in years. Even as the pandemic accelerated its rapid spread across the country, this fervent market competition has shown few, if any, signs of cooling and is unlikely in the near future. Combined, annual growth in home prices should continue its sharp upward trajectory in the months to come.

Monthly growth in December as reported by Case-Shiller is expected to slow slightly from [November] in all three main indices, while annual growth is expected to accelerate across the board. S&P Dow Jones Indices is expected to release data for the December S&P CoreLogic Case-Shiller Indices on Tuesday, February 23.
emphasis added
Zillow Case-Shiller House Price Forecast: "Gathering Speed", 10.3% YoY in DecemberThe Zillow forecast is for the year-over-year change for the Case-Shiller National index to be at 10.3% in December, up from 9.5% in November.

The Zillow forecast is for the 20-City index to be up 9.8% YoY in December from 8.9% in November, and for the 10-City index to increase to be up 9.5% YoY compared to 8.4% YoY in November.

Leave a Reply

Your email address will not be published. Required fields are marked *