Steel Products
Home Prices Finish Strong for 2012
Written by Sandy Williams
February 27, 2013
Written by: Sandy Williams
Home prices showed strong gains at the end of 2012 according to the S&P/Case-Shiller Home Price Indices. The national composite increased 7.3 percent in 2012 after surging in the second and third quarter and dipping slightly in the fourth period. The yearly indices for the 10- and 20-City Composites posted annual returns of 5.9 percent and 6.8 percent in 2012. Of the 20 cities, all except New York showed year-over-year growth.
“Atlanta and Detroit posted their biggest year-over-year increases of 9.9% and 13.6% since the start of their indices in January 1991. Dallas, Denver, and Minneapolis recorded their largest annual increases since 2001. Phoenix continued its climb, posting an impressive year-over-year return of 23.0%; it posted eight consecutive months of double-digit annual growth,” said David Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices.
The monthly indices for the 10-and 20-City composites both gained 0.2 percent reversing the previous month’s losses.
“These movements, combined with other housing data, suggest that while housing is on the
upswing some of the strongest numbers may have already been seen,” said Blitzer.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products
Market says cutting interest rates will spur stalled domestic plate demand
Market sources say demand for domestic plate refuses to budge despite stagnating prices.
U.S. Steel to halt slab conversion at Granite City Works
U.S. Steel said it plans to reduce slab consumption at its Granite City Works near St. Louis, a company spokesperson said on Monday. The Pittsburgh-based steelmaker will shift the production and processing of steel slabs to its Mon Valley Works near Pittsburgh and its Gary Works near Chicago. Citing a United Steelworkers (USW) union memo, […]
SMU Week in Review: September 1-5
Here are highlights of what’s happened this past week and a few upcoming things to keep an eye on.
HR Futures: Market finds footing on supply-side mechanics
As Labor Day marks the transition into fall, the steel market enters September with a similar sense of change. Supply-side fundamentals are beginning to show signs of restraint: imports are limited, outages loom, and production is capped, setting the stage for a market that feels steady on the surface but still unsettled underneath.
Beige Book: US markets remain cautious amidst volatile pricing environment
Sluggish economic activity across the US was largely attributed to uncertainty caused by tariff policies and growing cost pressures, according to the US Federal Reserve’s (The Fed) latest Beige Book report. The Fed’s latest economic report, posted on Sept. 3, consists of economic findings from the six weeks preceding Aug. 25 throughout 12 districts. Economic […]