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Economy in Brief
U.S. Industrial Production Rebounds
Industrial production jumped a greater-than-expected 0.6% (3.9% year-on-year) during November...
U.S. Business Inventory Accumulation Picks Up
Total business inventories increased 0.6% (5.1% y/y) during October...
U.S. Import Prices Weaken As Petroleum Prices Fall; Export Prices Also Decline
Import prices fell 1.6% (+0.7% y/y) during November following an unrevised 0.5% October rise...
U.S. Government Budget Deficit Surges Unexpectedly
The U.S. Treasury Department reported that the federal government ran a $204.9 billion budget deficit during November...
U.S. Initial Unemployment Insurance Claims Decline
Initial claims for unemployment insurance fell to 206,000 (-7.6% y/y) during the week ended December 8...
by Tom Moeller June 26, 2012
Prices in most markets improved m/m during April, notably in Phoenix, San Francisco, Tampa, Washington D.C., Minneapolis, Miami and Los Angeles. Losing momentum were prices in Detroit, New York and Boston.
The Case-Shiller home price series is value-weighted, i.e., a greater index weight is assigned to more expensive homes. It is a three-month moving average and is calculated using the "repeat sales method," where the item measured is the price change for a specific house compared to the price for that same house the last time it sold. The nation-wide S&P/Case-Shiller home price indexes can be found in Haver's USECON database, and the city data highlighted below are in the REGIONAL database.
| S&P Case-Shiller Home Price Index (SA, %) | Apr | Mar | Feb | Apr Y/Y |
2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|
| 20 City Composite Index | 0.7 | 0.7 | 0.1 | -1.9% | -3.9 | 1.3 | -13.3 |
| Regional Indicators | |||||||
| Atlanta | 0.8 | -0.3 | -2.0 | -17.0 | -7.0 | -2.4 | -11.6 |
| Boston | -0.1 | 0.8 | -0.1 | 0.1 | -2.0 | 1.9 | -4.9 |
| Chicago | 0.5 | -1.1 | -0.7 | -5.5 | -6.8 | -3.7 | -14.2 |
| Cleveland | 0.6 | 0.8 | -0.1 | -1.3 | -4.3 | 0.7 | -4.8 |
| Dallas | 0.5 | 1.4 | 0.6 | 2.9 | -2.4 | 0.1 | -2.3 |
| Denver | 0.4 | 1.1 | 0.3 | 2.8 | -2.1 | 0.9 | -2.8 |
| Detroit | -2.1 | -1.2 | 0.3 | 1.4 | -0.0 | -3.4 | -21.3 |
| Las Vegas | 0.9 | 0.6 | 0.2 | -5.9 | -6.5 | -7.7 | -29.8 |
| Los Angeles | 1.1 | 0.5 | 0.1 | -3.6 | -3.4 | 5.3 | -15.4 |
| Miami | 1.2 | 1.9 | 1.4 | 3.2 | -4.9 | -2.1 | -22.0 |
| Minneapolis | 1.3 | 0.8 | 1.3 | 3.9 | -8.2 | 3.2 | -15.7 |
| New York | -0.1 | -0.2 | -0.5 | -3.7 | -3.1 | -1.5 | -9.8 |
| Phoenix | 2.3 | 2.7 | 2.3 | 8.6 | -7.3 | -0.3 | -28.0 |
| Portland | 0.7 | 0.1 | 0.6 | -0.9 | -7.2 | -3.2 | -12.8 |
| San Diego | 0.7 | 0.4 | 0.6 | -1.8 | -4.4 | 7.3 | -13.3 |
| San Francisco | 1.5 | 1.0 | 1.2 | -1.4 | -4.9 | 9.3 | -18.4 |
| Seattle | 0.6 | 2.0 | -0.4 | -0.9 | -6.6 | -3.6 | -14.3 |
| Tampa | 1.4 | 1.3 | 0.9 | 0.8 | -6.6 | -4.0 | -18.8 |
| Washington, D.C. | 1.4 | 1.8 | -0.5 | 1.6 | -0.4 | 4.7 | -10.8 |
