In the News: Winter hits housing recovery

By Chris Isidore

Cold weather hurt home prices in January, as a closely watched measure of housing values posted its third straight monthly decline.

“The housing recovery may have taken a breather due to the cold weather,” said David Blitzer, chairman of the index committee at S&P Dow Jones Indices.

But home prices are still bouncing back from the bust. On a year-over-year basis, prices gained 13.2% nationally. The high point of the current recovery, the 13.7% increase in November, was generally seen an unsustainable by housing experts.

Home values over the last year have been helped by a drop in foreclosures, a decline in the unemployment rate and a relatively tight supply of homes available for sale. But beyond the cold weather, prices have faced a headwind of higher mortgage rates than a year ago, when rates were approaching a record low.

Later Tuesday the Census Bureau will report on new home sales in February. Economists surveyed by Briefing.com forecast a 5% drop in the pace of new home sales for the month, even when adjusted for seasonal factors.

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CAMICB is a more than 25 year old independent professional certification body responsible for developing and delivering the Certified Manager of Community Associations® (CMCA) examination. CAMICB awards and maintains the CMCA credential, recognized worldwide as a benchmark of professionalism in the field of common interest community management. The CMCA examination tests the knowledge, skills, and abilities required to perform effectively as a professional community association manager. CMCA credential holders attest to full compliance with the CMCA Standards of Professional Conduct, committing to ethical and informed execution of the duties of a professional manager. The CMCA credentialing program carries dual accreditation. The National Commission for Certifying Agencies (NCCA) accredits the CMCA program for meeting its U.S.-based standards for credentialing bodies. The ANSI National Accreditation Board (ANAB) accredits the CMCA program for meeting the stringent requirements of the ISO/IEC 17024 Standard, the international standards for certification bodies. The program's dual accreditation represents compliance with rigorous standards for developing, delivering, and maintaining a professional credentialing program. It underscores the strength and integrity of the CMCA credential. Privacy Policy: https://www.camicb.org/privacy-policy

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