6 percent May rise, based on a survey of 29 economists

US home prices to eke out small June gain

home Canada Goose Online prices likely eked out a small gain in June, but a rise would represent the final tail winds of the homebuyer tax buy canada goose jacket cheap credit that ended in April rather than housing market improvement, economists said.

Sales have canada goose uk outlet failed to sustain traction in the wake of the federal incentive that drew summer sales forward into spring months.

Tepid home buying despite record Canada Goose online low cheap Canada Goose mortgage rates, combined with the high hurdle of foreclosure sales, will keep weighing on home prices.

The Standard Poor 20 city composite home price index likely rose 0.2 percent in June after a 0.5 percent increase in May, canada goose store seasonally adjusted, according to a Reuters survey of 18 economists.

Forecasts ranged from a 0.6 percent drop to a 0.5 percent rise.

On an annual basis, the 3.9 percent increase that is expected for June would uk canada goose be a slowing from the 4.6 percent May rise, based on a survey of 29 economists. Estimates spanned between gains of 2.5 percent and 4.9 percent.

S which publishes the indexes, will also canada goose clearance sale report canada goose clearance on unadjusted prices in June as well as national home prices for the second Canada Goose Parka quarter. On an unadjusted basis, prices rose 1.3 percent in May and fell 1.3 percent in the first quarter.

FACTORS TO WATCH If prices are flat or higher in June, based on the S series, it would likely be because the indexes are based on three month moving averages and may be slower to adjust, several Wall Street firms noted.

HSBC forecasts a 0.7 percent rise in the national index for the second quarter, seasonally adjusted, after a 1.3 percent drop in the first quarter. house prices could be canada goose coats set to soften as the data begin to capture more of cheap canada goose uk canada goose outlet the transactions that occurred after the canada goose uk shop homebuyer tax credit expired at canada goose coats on sale the end of April, HSBC wrote in its weekly Economic Diary.

Bank of America Merrill Lynch forecasts a 0.5 percent seasonally Canada Goose sale adjusted drop in the 20 city monthly index, predicting that in June will prove to be the beginning of a downward trend in home prices.

MARKET REACTION There is little illusion that home prices can Canada Goose Coats On Sale accelerate much in the near term.

July sales of existing homes sank to the slowest pace in 15 years and Canada Goose Jackets new home sales dropped to the slowest pace on record, canada goose black friday sale the latest evidence canada goose that tight lending and the loss of home equity have stifled buying and mobility.

Unemployment canada goose uk black friday and foreclosures help buy canada goose jacket make housing a ship that will be painfully canada goose factory sale slow to turn around.

Market reaction will likely be tempered by any surprisingly large https://www.forcanadagoose.ru home price rise, as the consensus is that price appreciation will be fleeting at least through this year. Unexpected weakness in June or second quarter uk canada goose outlet home prices could prop bond prices, fostering the Canada Goose Outlet drive toward safe canadian goose jacket assets.