- US: GDP & Corporate Profits (Q4, 3rd release)
- Canada: Industrial Products & Raw Material Prices (Feb)
- Spain: Flash HICP and CPI, Construction Business Survey Press (Mar)
- Euro area: EC Business and Consumer Surveys (Mar)
- Belize: GDP (Q4)
- Chile: IP (Feb); Brazil: Retail Trade - Rebased 2014=100 (Jan)
- Croatia: Employment, Retail Trade Press (Feb), Earnings (Jan); Bulgaria: PPI (Feb); Montenegro: Wages (Feb); Latvia: Retail Trade (Jan); Lithuania: External Debt Service (Q4);
- more updates...
Economy in Brief
U.S. Initial Claims for Unemployment Insurance Ease
Initial jobless insurance applications fell to 258,000 (-3.1% y/y) during the week ended March 25...
U.S. Pending Home Sales Jump
The NAR reported that pending home sales increased 5.5% in February to an index level of 112.3...
U.S. Mortgage Loan Applications Remain Little Changed; Variable Rate Apps Surge
The MBA total Mortgage Market Volume Index slipped 0.8% last week (-12.4% y/y)...
La Dolce Vita? Italian Confidence Bumps Higher
Italian business and consumer confidence moved higher in March...
U.S. Consumer Confidence Improves Significantly
The Conference Board Consumer Confidence Index for March strengthened 8.2% (30.7% y/y) to 125.6...
U.S. Energy Product Prices Remain Under Pressure
Regular gasoline prices held steady at $2.32 per gallon last week (12.1% y/y) for the third straight week...
by Sandy Batten July 21, 2016
The Federal Housing Finance Agency's (FHFA) index of U.S. house prices rose a modest 0.2% m/m (5.6% y/y) in May following an upwardly revised 0.3% m/m (5.9% y/y) increase in April. Though the y/y change in nationwide house prices has been fluctuating in a relatively narrow range over the past year, this is the softest y/y reading since August 2015, and the softest monthly increase since January 2015.
For the nine census divisions, seasonally adjusted house prices fell in four regions from April to May and rose in the other five regions. The monthly changes ranged from a 1.3% m/m decline in the New England region to a 1.2% m/m increase in the Mountain region.
For the past 12 months, all regions posted increases in house prices, led by an 8.5% y/y increase in the Mountain region. The smallest price rise over the past year was the 3.4% y/y gain in the Middle Atlantic region.
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.
|FHFA U.S. House Price Index, Purchase Only (SA %)||May||Apr||Mar||May Y/Y||2015||2014||2013|
|East North Central||-0.2||0.0||0.7||4.1||4.6||4.7||5.4|
|West North Central||-0.2||0.8||0.4||4.9||4.4||4.1||4.9|
|East South Central||0.4||0.3||0.3||4.4||4.9||3.6||4.2|
|West South Central||0.8||-0.1||1.1||5.7||6.6||5.8||6.2|