Next Wednesday, the S&P Corelogic Case-Shiller HPI will be released showing the values of residential real estate and additionally foreshadowing what the market is doing.
The first half of the decade’s rising home prices were a good thing for home equity and therefore allowed consumers to spend because they could pull from their expanding home equity lines of credit (HELOC). However, according to Bloomberg, the slowing of new housing construction has caused consumers to not be able to pull from HELOCs like they used to. Additionally, the decline in home values has impeded homeowners to refinance.
So, what will this months release disclose about home values? Hopefully, that rates are increasing.
The S&P Corelogic Case-Shiller home price index will be released Wednesday at 9 a.m. EST.
Other Events in the Week Ahead:
Zillow, Hidden Costs of Homeownership, Wednesday
Senate Banking Committee Full Executive Session on Nominations, Tuesday 10 a.m. EDT
FHFA Home Price Index, Tuesday 9 a.m. EDT
New Home Sales, Wednesday 10 a.m. EDT
Freddie Mac Weekly Mortgage Survey, Thursday 10 a.m. EDT