More Evidence of Flatter Home Prices.

ICSC-Goldman Store Sales (week ended 9/20/2014)

– Store Sales week/week +0.1 %. Previous was -2.6%

– Store Sales year/year +4.1%. Previous was +3.0%

 

Redbook (week ended 9/20/2014)

– Store Sales year/year +3.7%. Previous was +3.6%.

 

FHFA House Price Index (July 2014)

– month/month +0.1%. Previous was +0.3%

– year/year +4.4%. Previous was +5.1%

These are prices for homes purchased with conforming loans.  Flatter home prices are a response to several things:  increased prices have made home affordable to fewer people, there are fewer people buying income property because the period of folks picking up rental properties at good prices almost is over, and tougher mortgage qualifying was mandated by CFPB.

 

PMI Manufacturing Index Flash  (September 2014)

– Index level 57.9. previous was 58.0

 

Richmond Federal Reserve Manufacturing Index (September 2014)

– Level Change 14.  Previous was 12.