- Kazakhstan: GDP by Income, Labor Productivity Index (Q4), Loans & Deposits, Monetary Aggregates, Banking System Surveys (Mar)
- Japan: Index of Business Conditions (Feb-Final), Electric Power Generated (Jan)
- Spain: Services Sector Activity, New Orders and Turnovers (Feb)
- Finland: PPI, Domestic Supply Prices (Mar)
- US: NABE Business Conditions Survey (Q1)
- Indonesia: Non-Oil and Gas Trade (Feb); Taiwan: Labor Market (Mar)
- more updates...
Economy in Brief
Fresh Six-Year PMI Highs for Euro Area
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Philadelphia Fed Factory Conditions Soften
The Philadelphia Fed reported that its General Factory Sector Business Conditions Index fell to 22.0 during April...
U.S. Leading Economic Indicators Suggest Continued Expansion
The Conference Board's Composite Index of Leading Economic Indicators increased 0.4% (3.5% y/y) during March...
U.S. Initial Unemployment Insurance Applications Increase
Initial unemployment claims for unemployment insurance rose to 244,000 during the week ended April 15 (-5.1% y/y)...
Japan's 'Trade Trends' Stabilize on an Unstable Foundation
Japan trade trends, broadly considered, seem to be stabilizing...
U.S. Mortgage Loan Applications Fall
The MBA total Mortgage Applications Volume Index declined 1.8% last week (-24.9% y/y)...
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|