- US: Advance Trade & Inventories (Feb)
- Sweden: Retail Trade, PPI, International Trade (Feb); Iceland: CPI (Mar)
- Turkey: International Reserves (Feb); Mauritius: Wage Rate Index, LFS (Q4); Saudi Arabia: Non-Oil Foreign Trade (Jan); Palestine: BOP (Q4); UAE: Fuel Prices (Apr); Israel: Construction Starts & Completions (Q4); South Africa: Construction Survey (Q1); Tanzania: Trade (Q4)
- Brazil: PPI (Feb)
- more updates...
Economy in Brief
Texas Factory Sector Activity Remains Strong
The Dallas Fed indicated in its Texas Manufacturing Outlook Survey that the General Business Activity Index eased during March...
EMU Money and Credit Growth Are Less Than Impressive Than Euro-PMIs
EMU nominal money supply growth is slightly higher over three months, but credit growth in the EMU is slower...
Durable Goods Orders Strengthened by Another Jump in Aircraft
New orders for durable goods rose 1.7% (5.0% y/y) during February...
Correction to Unemployment Insurance Weekly Claims
The Department of Labor has issued a correction to yesterday's annual revision to seasonally adjusted weekly unemployment claims...
EMU PMIs Are Off to the Races...Farewell Mediocrity?
The PMI rankings for the manufacturing and service sector PMIs in the EMU are suddenly off the chart...
U.S. New Home Sales Improve While Prices Decline
Sales of new single-family homes increased 6.1% (12.8% y/y) during February to 592,000 units (AR)...
by Tom Moeller May 25, 2016
The U.S. House Price Index, from the Federal Housing Finance Agency (FHFA), increased 0.7% (6.1% y/y) during March following a 0.5% gain during February, revised from 0.4%. It was the quickest rise in six months and improved the y/y gain to 6.1% after a 5.7% increase during all of last year. During the first quarter, home prices rose 1.3% and 5.7% y/y.
Prices were strongest y/y in the Pacific region (9.5% y/y) and amongst the Mountain states (8.6% y/y).
Improved annual rates of increase occurred in the South Atlantic (7.0% y/y), and in the West South Central states (6.8% y/y). Home prices also firmed by steady 5.2% y/y in the East North Central region, but by an easier 5.1% y/y in the West North Central zone.
Home price improvement was weakest in New England (3.3% y/y) and amongst the Middle Atlantic states (2.3% y/y).
The FHFA house price index is a weighted repeat sales index. It measures average price changes in repeat sales of the same property. An associated quarterly index also includes refinancings on the same kinds of properties. The indexes are based on transactions involving conforming, conventional mortgages purchased or securitized by Fannie Mae or Freddie Mac. Only mortgage transactions on single-family properties are included. The FHFA data are available in Haver's USECON database.
Household Formation among Young Adults from the Federal Reserve Bank of San Francisco is available here.
|FHFA U.S. House Price Index, Purchase Only (SA %)||Mar||Feb||Jan||Mar Y/Y||2015||2014||2013|
|West South Central||0.9||0.9||-0.1||6.8||6.6||5.8||6.2|
|East North Central||0.7||0.4||0.7||5.2||4.6||4.7||5.4|
|West North Central||0.0||-0.1||0.8||5.1||4.4||4.1||4.9|
|East South Central||0.2||0.1||-0.3||4.1||4.9||3.6||4.2|