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Economy in Brief
U.S. Small Businesses Optimism Backtracks in July
NFIB Small Business Optimism Index declines to 98.8 in July after two monthly gains...
U.S. Gasoline Prices Ease; Other Energy Prices Strengthen
Gasoline prices slip marginally...
ZEW Expectations Head for the High Ground
ZEW expectations have been high for several months...
U.S. JOLTS: Job Market Continues to Improve in June
Job openings are more numerous...
OECD LEIs Continue to Turn Up But Signals Remain Weak
The OECD total amplitude adjusted LEIs are below 100 across the board...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
Chaos In Governing During A Crisis Creates More Problems Than It Solves
Global PMIs- A Rebound and a Fun-House Mirror Trick
Second Quarter Government Transfer Payments Likely Took the Edge Off Covid-19
Biggest Decline in Nominal Output & Income In Our Lifetime
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 |
