Home Prices in U.S. Cities Probably Fell at Slower Pace in Year to August in Home prices in 20 U.S. cities probably fell at a slower pace and consumer confidence hovered near a two-year low, highlighting the obstacles facing the recovery in its 3rd year economists said, before reports today.
The S&P/Case-Shiller index of property values in 20 cities dropped 3.5 percent in August from the same month in 2010 after decreasing 4.1 percent in the year ended July to the median forecast of 29 economists surveyed by Bloomberg News and the confidence rose to 46 this month from 45.4 in September to separate figures may show to recovering the 31 percent plunge in home prices from their 2006 peak will probably be years in the making as foreclosures throw more properties to the market and sales flag.
Federal Reserve policy makers like William Dudley are among those that believe bolstering housing is among the “most pressing issues” facing the central bank and the small improvement in home prices is a positive to though it hardly changes the story that the housing market will take years to clean up said, Jennifer Lee, an economist at BMO Capital Markets in Toronto consumer confidence will remain quite fragile as there are still many negatives out there.
The S&P/Case-Shiller index, based on a three-month average, is due at 9 a.m. New York time for a survey estimates ranged from declines of 3 percent to 4.3 percent and the New York-based Conference Board’s consumer confidence gauge is due at 10 a.m in the Bloomberg survey median was based on 75 estimates that ranged from 42.5 to 52 and the measure reached a two-year low of 45.2 in August.
The S&P/Case-Shiller index of property values in 20 cities dropped 3.5 percent in August from the same month in 2010 after decreasing 4.1 percent in the year ended July to the median forecast of 29 economists surveyed by Bloomberg News and the confidence rose to 46 this month from 45.4 in September to separate figures may show to recovering the 31 percent plunge in home prices from their 2006 peak will probably be years in the making as foreclosures throw more properties to the market and sales flag.
Federal Reserve policy makers like William Dudley are among those that believe bolstering housing is among the “most pressing issues” facing the central bank and the small improvement in home prices is a positive to though it hardly changes the story that the housing market will take years to clean up said, Jennifer Lee, an economist at BMO Capital Markets in Toronto consumer confidence will remain quite fragile as there are still many negatives out there.
The S&P/Case-Shiller index, based on a three-month average, is due at 9 a.m. New York time for a survey estimates ranged from declines of 3 percent to 4.3 percent and the New York-based Conference Board’s consumer confidence gauge is due at 10 a.m in the Bloomberg survey median was based on 75 estimates that ranged from 42.5 to 52 and the measure reached a two-year low of 45.2 in August.
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