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March state of the US housing market

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March state of the US housing market

Over the last month, data published showed generally positive conditions in the U.S. housing market, with rates increasing in home prices, housing starts and new-home sales. The data also reflected a decrease in the monthly rate of existing-home sales.

Data released March 28 by the S&P CoreLogic Case-Shiller Indices showed a continued rise in home prices across the country. The Case-Shiller U.S. National Home Price NSA index saw a 5.9% annual gain after seasonal adjustment in January, marking a 31-month high.

According to the U.S. Census Bureau and the Department of Housing and Urban Development, privately owned housing starts in the U.S. during the month of February increased by a seasonally adjusted rate of 6.2% year over year. The February rate was also up 3.0% from January's revised estimate. Meanwhile, single-family housing starts in February were up 6.5% from the prior month.

During February, new single-family home sales saw an increase on both an annual and monthly basis, with gains of 12.8% and 6.1%, respectively, according to the Census Bureau and HUD.

Existing-home sales in the U.S. were down by 3.7% on a monthly basis in February, after reaching the fastest pace in almost a decade the prior month, the National Association of Realtors reported. However, on a yearly basis, sales were 5.4% above the February 2016 rate.

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Use SNL's Homebuilder Peer Analysis Template from the Template Library to further examine performance in the U.S. homebuilder space.

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