Tuesday, October 31, 2017

Zillow Case-Shiller Forecast: More Solid House Price Gains in September

by Bill McBride on 10/31/2017 05:52:00 PM

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

From Svenja Gudell at Zillow: Case-Shiller August Results and September Forecast: Gains to the Horizon

The U.S. housing market has settled into a predictable rhythm that shows very few signs of changing. There is incredibly strong demand, driven by a largely healthy overall economy and aging millennials entering their home buying prime, and there is too-low inventory, driven by limited home building activity. Together, those two factors continue to push housing prices up.
...
Our home-price forecast for September, which Case-Shiller will not release until Nov. 28, is for more of the same: We expect the national index to maintain its 0.5 percent month-over-month trend, with both city composites climbing 0.4 percent month-over-month, which is slightly slower than they have been.
The year-over-year change for the Case-Shiller National index will be about the same in September as in August.

Zillow forecast for Case-Shiller