Case-Shiller: Home Prices Fall Short of Market Expectations

first_img Previous: Existing-Home Sales Jump 4.9% in May Next: HUD, Real Estate Company Settle Allegations of Discrimination Case-Shiller credit First-time Buyers Home Prices 2014-06-24 Tory Barringer Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily June 24, 2014 931 Views The Best Markets For Residential Property Investors 2 days ago Share Save Tagged with: Case-Shiller credit First-time Buyers Home Prices Case-Shiller: Home Prices Fall Short of Market Expectations  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Headlines, Market Studies, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles Home / Daily Dose / Case-Shiller: Home Prices Fall Short of Market Expectations Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Annual home price gains pulled back sharply in April, falling short of market expectations, a report released Tuesday shows.In its latest S&P/Case-Shiller Home Price Indices report, S&P Dow Jones Indices recorded an annual price increase of 10.8 percent among both the 10- and 20-city composites. Those figures compare to year-over-year increases of 12.6 percent and 12.4 percent, respectively.A consensus of economists surveyed by Econoday called for a gain of 11.4 percent in the 20-city index.Of the 20 cities tracked, 19 posted lower annual appreciation in April than in March, S&P Dow Jones reported, with only Boston coming out ahead.”Last year some Sunbelt cities were seeing year-over-year numbers close to 30 percent, now all are below 20 percent: Las Vegas (18.8 percent), Los Angeles (14.0 percent), Phoenix (9.8 percent), San Diego (15.3 percent), and San Francisco (18.2 percent),” said David M. Blitzer, chairman of the Index Committee at S&P Dow Jones Indices. “Other cities around the nation are also experiencing slower price increases.”Monthly numbers looked slightly more encouraging: In April, the 10- and 20-city composites posted respective increases of 1.0 percent and 1.1 percent, accelerating over March. Out of the 20 cities surveyed, all reported month-over-month appreciation.Though most markets nationwide still have some ground to make up before they return to their former peaks, higher costs and tighter credit have made it more difficult for some groups of buyers to reclaim their role in the market.”First time buyers are not back in force and qualifying for a mortgage remains challenging,” Blitzer said. “The question is whether housing will bounce back before the Fed begins to tighten sometime next year.”Recent numbers may indicate a little bit of hope on that front: On Monday, the National Association of Realtors reported a 4.9 percent month-over-month increase in existing-home sales in May—the strongest monthly increase since 2011—while the Census Bureau recorded an 18.6 percent spike in new home sales on Tuesday. Subscribelast_img read more

​ATP swipes investment chief from JØP/DIP to fill CIO gap

first_imgMikkel Svenstrup, incoming ATP CIOSvenstrup said: “I look forward to contributing to shouldering ATP’s societal responsibility, including working on the future development of ATP’s business model.”ATP’s business model is currently being discussed by the pension fund’s board, and has come in for some criticism recently from academics.Before working at P+, Svenstrup held management positions at Nordea, UBS Investment Bank and Barclays Capital.Søren Kolbye Sørensen, CEO of P+, told IPE that “P+ have been fortunate to work together with Mikkel for the past three years. He has been instrumental in developing the investment skills of P+ to a new level implementing a risk-based approach.”Kolbye Sørensen said Svenstrup’s departure would leave a gap, but added that P+ was fortunate that its other investment professionals were quite capable of carrying the firm forward.“We are planning to search for a replacement as CIO in the coming months,” he said.JØP and DIP have combined assets of around DKK120bn. The pension fund, based in the north Copenhagen suburb of Hillerød, conducted a rigorous recruitment procedure, and Svenstrup embodied the skills and personal qualities required to succeed as CIO, Foged said.“He brings with him not only an impressive theoretical foundation, but also deep insights and solid practical experience from all the core investment disciplines.“In addition, he has practical experience both from the sales and the management sides,” Foged said. Denmark’s biggest pension fund, the DKK934bn (€125bn) statutory fund ATP, has appointed Mikkel Svenstrup as its new chief investment officer and member of ATP’s group management.Svenstrup is currently CIO at P+, the administrative cooperation of merging pension funds JØP and DIP, which cover lawyers and economists, and engineers, respectively, and he has been in the job for three years.Set to start his new role at ATP on 1 March 2020, Svenstrup will fill the vacancy left by Kasper Ahrndt Lorenzen, who quit the labour market statutory pension fund to become group CIO of PFA, the largest commercial pension fund in Denmark, in September.Bo Foged, ATP’s chief executive officer, said: “We are facing a world of low expected returns and increasing market fluctuations, making it absolutely vital that we have the very best investment and risk talent onboard.”last_img read more

Freeze warning in effect overnight

first_imgDecatur, Franklin, and Ripley Counties, IN— The National Weather Service has issued a Freeze Warning overnight from 1 am to 9 am on Wednesday for all of southeastern Indiana.  Temperatures will reach below 30 degrees overnight and in the early morning.  Frost and freeze conditions will kill crops, other sensitive vegetation and possibly damage unprotected outdoor plumbing. They advise you to take steps now to protect tender plants from the cold. To prevent freezing and possible bursting of outdoor water pipes they should be wrapped, drained, or allowed to drip slowly. Those that have in-ground sprinkler systems should drain them and cover above-ground pipes to protect them from freezing.last_img read more