Recent Updates
- Euro area: Flash Consumer Confidence (Apr)
- Ireland: Producer & Wholesale Price Indexes (Mar)
- UK: Capital Issuance (Mar)
- Spain: Trade in Constant Prices, Trade in Goods (Feb)
- Germany: Federal Budget, PPI, Monthly Tax Revenue (Mar), Short-term Indicator (Feb), Public Sector Finance (Q4)
- Colombia: Imports (Feb); Brazil: IPCA-15 (Apr)
- Turkey: Non-Domestic PPI, House Sales, Central Government and Domestic Debt by Instrument, External Debt by Lender, Domestic
- more updates...
Economy in Brief
German PPI Accelerates
The German year-on-year PPI has generally been decelerating since early 2017...
U.S. Leading Economic Indicators Signal Continued Expansion
The Conference Board's Composite Index of Leading Economic Indicators increased 0.3% during March...
Philadelphia Fed Factory Conditions Improve; Prices Jump
The Philadelphia Fed reported that its General Factory Sector Business Conditions Index rose to 23.2 during April...
U.S. Initial Claims for Unemployment Insurance Are Little Changed
Initial unemployment insurance claims slipped to 232,000 (-6.1% y/y) during the week ended April 14...
U.K. Retail Sales Fall
U.K. GDP is expected to cool its jets when the first quarter GDP number is released...
by Tom Moeller June 29, 2010
Home prices improved during April. Seasonally adjusted, the Case-Shiller Home
Price Index inched up 0.4% from March after two months of slight decline.
However, home prices remain depressed and have fallen 29.1% since the May 2006
peak. Moreover, home prices in April may have been buoyed by the $8,000
home-buyer Federal tax credit which is about to expire. The narrower 10
City Composite Home Price Index rose a seasonally adjusted 0.3% during April.
Over the last year prices rose 4.7%.
The performance of home prices continued to vary around the country. During April the 12-month gain in prices was strongest in the West where in San Francisco it totaled 18.1% and 11.8% in San Diego. Lesser annual gains were logged in Minneapolis (9.6%), Los Angeles (7.9%), Washington D.C. (7.3%), Cleveland (6.9%) and Phoenix (5.5%). Prices also rose in Boston (4.9%), Denver (4.4%), Dallas (3.3%) and Atlanta (0.3%). Widespread, though lessened, price declines continued in Detroit (-2.9%), Charlotte (-2.2%), Seattle (-2.8%), New York (-1.0%) and Portland (-0.4%).
The Case-Shiller home price series are value-weighted, i.e., a greater index weight is assigned to more expensive homes. The S&P/Case-Shiller home price series can be found in Haver's USECON database and the city data highlighted below is in the REGIONAL database.
It's Greek to Me is the title of yesterday's speech by Fed Governor Kevin Warsh and it can be found here.
| S&P/Case-Shiller Home Price Index (SA) | April m/m | March m/m | February m/m | April y/y | 2009 | 2008 | 2007 | |
|---|---|---|---|---|---|---|---|---|
| 20 City Composite Index | 0.4% | -0.2% | -0.1% | 3.8% | -13.3% | -15.7% | -3.8% | |
| Regional Indicators | ||||||||
| Atlanta | 0.9 | -1.4 | -0.7 | 0.3 | -11.6 | -8.5 | 0.7 | |
| Boston | 0.5 | 0.4 | -0.4 | 4.9 | -4.9 | -5.7 | -4.0 | |
| Chicago | 1.0 | -2.4 | -1.0 | -1.5 | -14.2 | -10.0 | -1.0 | |
| Dallas | 0.6 | 0.3 | -1.3 | 3.3 | -2.3 | -3.3 | 0.5 | |
| Denver | 0.6 | 1.1 | -0.4 | 4.4 | -2.8 | -4.9 | -1.7 | |
| Los Angeles | 0.8 | -0.4 | 0.1 | 7.9 | -15.4 | -24.2 | -5.2 | |
| New York | -0.1 | -0.2 | -0.1 | -1.0 | -9.8 | -7.4 | -2.8 | |
| San Francisco | 1.1 | 1.8 | 0.2 | 18.1 | -18.4 | -24.3 | -4.5 | |
| Tampa | 0.3 | 0.5 | -0.4 | -2.3 | -18.8 | -19.2 | -7.6 | |
