{"id":1004081359,"date":"2013-08-07T05:45:29","date_gmt":"2013-08-07T13:45:29","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004081359"},"modified":"2022-12-08T17:31:16","modified_gmt":"2022-12-09T01:31:16","slug":"economy-watch-more-evidence-of-higher-home-prices-but-not-by-much-gses-not-going-away-yet","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/economy-watch-more-evidence-of-higher-home-prices-but-not-by-much-gses-not-going-away-yet\/","title":{"rendered":"Economy Watch: More Evidence of Higher Home Prices, but Not by Much; GSEs Not Going Away (Yet)"},"content":{"rendered":"

Dees Stribling, Contributing Editor<\/em><\/p>\n

Case-Shiller\u2019s most recent numbers last week pointed to sustained growth in U.S. home valuations, though the report was for the three months ending in May. On Tuesday, CoreLogic issued its most recent report on home valuations, and while the methodology is somewhat different, the numbers point to a similar conclusion. They\u2019re also newer, since CoreLogic\u2019s report is for June.<\/p>\n

Home prices nationwide, including distressed sales, increased 11.9 percent year over year in June 2013, CoreLogic reports. That\u2019s the 16th consecutive monthly increase in home prices nationally. Month over month, including distressed sales, home prices were up by 1.9 percent in June. Take distressed sales out of the picture\u2014short sales and REOs\u2014and the increase was only slightly less: home prices were up year over year by 11 percent in June, and month over month by 1.8 percent.<\/p>\n

\u201cIn the first six months of 2013, the U.S. housing market appreciated a remarkable 10 percent,\u201d Mark Fleming, chief economist for CoreLogic, said in a statement. \u201cThis trend in home price gains is moving at the fastest pace since 1977.\u201d<\/p>\n

But Maybe Not Too Much Higher\u00a0<\/strong><\/p>\n

Does this upward trajectory of home prices mean a bubble is in the works? Another compiler of housing data, Trulia, also released a report on Tuesday, and it casts doubt on the notion of a 2000s-like housing bubble. According to Trulia, asking home prices are now starting to lose steam.<\/p>\n

Nationally, the company says, asking prices for homes dropped 0.3 percent in July\u2013the first month-over-month decline since November 2012. Asking prices rose 3.3 percent quarter over quarter, down from a peak of 4.2 percent in April. Year over year, asking prices are up 11 percent nationally, but Trulia asserts that an annual figure is slower to show changes than monthly or quarterly numbers.<\/p>\n

\u201cIf you were worried about a housing bubble, July\u2019s asking-price slowdown will probably be the best news you\u2019ve heard this year,\u201d Trulia\u2019s chief economist Jed Kolko said in a statement. \u201cThe asking home price slowdown in July could be the start of the return to normal price gains. The blazing fast price increases we\u2019ve seen in recent months could not last, especially with rising mortgage rates, expanding inventory, and declining investor interest.\u201d<\/p>\n

GSEs to Go Away? Not Yet.\u00a0<\/strong><\/p>\n

President Obama outlined plans for \u201cwinding down\u201d Fannie Mae and Freddie Mae in a speech in Phoenix on Tuesday. Under his plan\u2014which looks like a Senate bill now taking shape in that chamber\u2014the GSEs would continue to reduce their portfolios, and would lose the (formally unstated, but always understood) guarantee of a federal government bailout. Going forward, private investors would shoulder most of the risk, with the government as a secondary guarantor.<\/p>\n

A rather different bill is forming in the House, one that might call for the complete extrication of the federal government from the housing market. Considering the state of Congress, it\u2019s unlikely that either version will be passed before the 2014 election.<\/p>\n

Wall Street took a dive on Tuesday, with the Dow Jones Industrial Average off 93.39 points, or 0.6 percent. The S&P 500 lost 0.57 percent and the Nasdaq declined 0.74 percent.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Two studies recently conducted both point to sustained growth in home valuations. But according to another source data, the prices are not high enough to cause a housing bubble similar to earlier in the 2000s. And the GSEs are not going away just yet: there’s a bill in place in the House to extricate the federal government from the housing market, but it’s unlikely to be passed before the 2014 election.<\/p>\n","protected":false},"author":952,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742],"tags":[],"class_list":["post-1004081359","post","type-post","status-publish","format-standard","hentry","category-latest"],"acf":[],"yoast_head":"\nEconomy Watch: More Evidence of Higher Home Prices, but Not by Much; GSEs Not Going Away (Yet) - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/economy-watch-more-evidence-of-higher-home-prices-but-not-by-much-gses-not-going-away-yet\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Economy Watch: More Evidence of Higher Home Prices, but Not by Much; GSEs Not Going Away (Yet)\" \/>\n<meta property=\"og:description\" content=\"Two studies recently conducted both point to sustained growth in home valuations. But according to another source data, the prices are not high enough to cause a housing bubble similar to earlier in the 2000s. And the GSEs are not going away just yet: there's a bill in place in the House to extricate the federal government from the housing market, but it's unlikely to be passed before the 2014 election.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/economy-watch-more-evidence-of-higher-home-prices-but-not-by-much-gses-not-going-away-yet\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-08-07T13:45:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T01:31:16+00:00\" \/>\n<meta name=\"author\" content=\"Anna Spiewak\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-more-evidence-of-higher-home-prices-but-not-by-much-gses-not-going-away-yet\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-more-evidence-of-higher-home-prices-but-not-by-much-gses-not-going-away-yet\\\/\"},\"author\":{\"name\":\"Anna Spiewak\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/1bbb99675c2609ea2e6792f8b25d7b76\"},\"headline\":\"Economy Watch: More Evidence of Higher Home Prices, but Not by Much; GSEs Not Going Away (Yet)\",\"datePublished\":\"2013-08-07T13:45:29+00:00\",\"dateModified\":\"2022-12-09T01:31:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-more-evidence-of-higher-home-prices-but-not-by-much-gses-not-going-away-yet\\\/\"},\"wordCount\":539,\"commentCount\":0,\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-more-evidence-of-higher-home-prices-but-not-by-much-gses-not-going-away-yet\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-more-evidence-of-higher-home-prices-but-not-by-much-gses-not-going-away-yet\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-more-evidence-of-higher-home-prices-but-not-by-much-gses-not-going-away-yet\\\/\",\"name\":\"Economy Watch: More Evidence of Higher Home Prices, but Not by Much; GSEs Not Going Away (Yet) - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"datePublished\":\"2013-08-07T13:45:29+00:00\",\"dateModified\":\"2022-12-09T01:31:16+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/1bbb99675c2609ea2e6792f8b25d7b76\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-more-evidence-of-higher-home-prices-but-not-by-much-gses-not-going-away-yet\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-more-evidence-of-higher-home-prices-but-not-by-much-gses-not-going-away-yet\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-more-evidence-of-higher-home-prices-but-not-by-much-gses-not-going-away-yet\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Economy Watch: More Evidence of Higher Home Prices, but Not by Much; GSEs Not Going Away (Yet)\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/1bbb99675c2609ea2e6792f8b25d7b76\",\"name\":\"Anna Spiewak\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/ca81c045f3cbec45b685f13082ecf7d9870a1909fe3ec2d4d15b1dea4897f406?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/ca81c045f3cbec45b685f13082ecf7d9870a1909fe3ec2d4d15b1dea4897f406?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/ca81c045f3cbec45b685f13082ecf7d9870a1909fe3ec2d4d15b1dea4897f406?s=96&d=mm&r=g\",\"caption\":\"Anna Spiewak\"},\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/annaspiewak\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Economy Watch: More Evidence of Higher Home Prices, but Not by Much; GSEs Not Going Away (Yet) - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/economy-watch-more-evidence-of-higher-home-prices-but-not-by-much-gses-not-going-away-yet\/","og_locale":"en_US","og_type":"article","og_title":"Economy Watch: More Evidence of Higher Home Prices, but Not by Much; GSEs Not Going Away (Yet)","og_description":"Two studies recently conducted both point to sustained growth in home valuations. But according to another source data, the prices are not high enough to cause a housing bubble similar to earlier in the 2000s. And the GSEs are not going away just yet: there's a bill in place in the House to extricate the federal government from the housing market, but it's unlikely to be passed before the 2014 election.","og_url":"https:\/\/www.commercialsearch.com\/news\/economy-watch-more-evidence-of-higher-home-prices-but-not-by-much-gses-not-going-away-yet\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2013-08-07T13:45:29+00:00","article_modified_time":"2022-12-09T01:31:16+00:00","author":"Anna Spiewak","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/economy-watch-more-evidence-of-higher-home-prices-but-not-by-much-gses-not-going-away-yet\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/economy-watch-more-evidence-of-higher-home-prices-but-not-by-much-gses-not-going-away-yet\/"},"author":{"name":"Anna Spiewak","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/1bbb99675c2609ea2e6792f8b25d7b76"},"headline":"Economy Watch: More Evidence of Higher Home Prices, but Not by Much; GSEs Not Going Away (Yet)","datePublished":"2013-08-07T13:45:29+00:00","dateModified":"2022-12-09T01:31:16+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/economy-watch-more-evidence-of-higher-home-prices-but-not-by-much-gses-not-going-away-yet\/"},"wordCount":539,"commentCount":0,"articleSection":["News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.commercialsearch.com\/news\/economy-watch-more-evidence-of-higher-home-prices-but-not-by-much-gses-not-going-away-yet\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/economy-watch-more-evidence-of-higher-home-prices-but-not-by-much-gses-not-going-away-yet\/","url":"https:\/\/www.commercialsearch.com\/news\/economy-watch-more-evidence-of-higher-home-prices-but-not-by-much-gses-not-going-away-yet\/","name":"Economy Watch: More Evidence of Higher Home Prices, but Not by Much; GSEs Not Going Away (Yet) - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"datePublished":"2013-08-07T13:45:29+00:00","dateModified":"2022-12-09T01:31:16+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/1bbb99675c2609ea2e6792f8b25d7b76"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/economy-watch-more-evidence-of-higher-home-prices-but-not-by-much-gses-not-going-away-yet\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/economy-watch-more-evidence-of-higher-home-prices-but-not-by-much-gses-not-going-away-yet\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/economy-watch-more-evidence-of-higher-home-prices-but-not-by-much-gses-not-going-away-yet\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Economy Watch: More Evidence of Higher Home Prices, but Not by Much; GSEs Not Going Away (Yet)"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/1bbb99675c2609ea2e6792f8b25d7b76","name":"Anna Spiewak","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/ca81c045f3cbec45b685f13082ecf7d9870a1909fe3ec2d4d15b1dea4897f406?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/ca81c045f3cbec45b685f13082ecf7d9870a1909fe3ec2d4d15b1dea4897f406?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/ca81c045f3cbec45b685f13082ecf7d9870a1909fe3ec2d4d15b1dea4897f406?s=96&d=mm&r=g","caption":"Anna Spiewak"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/annaspiewak\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004081359","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/952"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004081359"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004081359\/revisions"}],"predecessor-version":[{"id":1004622116,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004081359\/revisions\/1004622116"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004081359"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004081359"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004081359"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}