by Calculated Risk on 6/01/2020 01:05:00 PM
Monday, June 01, 2020
The Case-Shiller house price indexes for March were released last week. 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: March Case-Shiller Results and April Forecast: Housing Maintains its Strength
The strong buyer demand heading into this crisis has held fairly steady in the months since the outbreak, as record-low mortgage rates and inventory levels have maintained competition in the markets and placed upward pressure on home prices. So much remains uncertain – including the longer-term path for home prices – but for now, competition for homes is holding strong and keeping prices afloat.The Zillow forecast is for the year-over-year change for the Case-Shiller National index to be at 4.4% in April, the same as 4.4% in March.
Annual growth in April as reported by Case-Shiller is expected to accelerate in the 10- and 20-city indices, and stay steady in the national index. S&P Dow Jones Indices is expected to release data for the April S&P CoreLogic Case-Shiller Indices on Tuesday, June 30.
The Zillow forecast is for the 20-City index to be up 4.2% YoY in April from 3.9% in March, and for the 10-City index to increase to 3.7% YoY compared to 3.4% YoY in March.