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- Ireland: Harmonized Competitiveness Indicators (Q2, Sep)
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Economy in Brief
U.S. Energy Product Prices Are Mixed
Natural gas prices increased 13.6% (-3.6% y/y) to $2.17/mmbtu in the week ended October 16...
German Inflation Is Still Falling But Show Signs of Stirring
German PPI trends continue to be weak and show prices declines when expressed as y/y changes...
U.S. Home Builder Sentiment Logs Another Record High
The Composite Housing Market Index from the NAHB-Wells Fargo increased 2.4% to a record 85 during October...
Japan's Trade Surplus Grows
Japan has a string of three-monthly surpluses in a row...
U.S. Government Budget Deficit Surged in FY 2020
Budget gap totals $3.132 trillion...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller September 25, 2012
Housing prices are on the rise throughout the country. The seasonally adjusted Case-Shiller 20-City Home Price Index rose 0.4% (1.1% y/y) during July. That added to an unrevised 0.9% June increase. The gain in prices follows last year's 3.9% drop. The narrower 10 City Composite Home Price Index also gained 0.4% (0.6% y/y), the sixth gain in as many months.
Prices improved m/m during July across the country, notably in Phoenix, Detroit, Atlanta, San Francisco, Seattle, Chicago, Denver, Minneapolis 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, %) | Jul | Jun | May | Jul Y/Y |
2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|
| 20 City Composite Index | 0.4 | 0.9 | 1.0 | 1.1% | -3.9 | 1.3 | -13.3 |
| Regional Indicators | |||||||
| Atlanta | 1.1 | 2.5 | 1.8 | -10.1 | -7.0 | -2.4 | -11.6 |
| Boston | 0.7 | 0.6 | 0.7 | 0.9 | -2.0 | 1.9 | -4.9 |
| Chicago | 0.8 | 1.6 | 3.0 | -1.1 | -6.8 | -3.7 | -14.2 |
| Cleveland | -0.4 | 0.3 | 0.6 | 0.4 | -4.3 | 0.7 | -4.8 |
| Dallas | 0.1 | -0.1 | 0.4 | 3.6 | -2.4 | 0.1 | -2.3 |
| Denver | 0.8 | 0.4 | 0.8 | 5.4 | -2.1 | 0.9 | -2.8 |
| Detroit | 1.4 | 2.5 | 3.4 | 6.2 | 0.0 | -3.4 | -21.3 |
| Las Vegas | 0.5 | 1.1 | 1.8 | -0.9 | -6.5 | -7.7 | -29.8 |
| Los Angeles | 0.5 | 1.0 | 1.1 | 0.4 | -3.4 | 5.3 | -15.4 |
| Miami | 0.6 | 0.7 | 0.7 | 5.3 | -4.9 | -2.1 | -22.0 |
| Minneapolis | 0.8 | 1.1 | 0.6 | 6.3 | -8.2 | 3.2 | -15.7 |
| New York | 0.0 | 0.6 | 0.6 | -2.7 | -3.1 | -1.5 | -9.8 |
| Phoenix | 1.4 | 1.5 | 1.8 | 16.6 | -7.3 | -0.3 | -28.0 |
| Portland | 0.3 | 1.7 | 1.0 | 3.2 | -7.2 | -3.2 | -12.8 |
| San Diego | 0.1 | 0.4 | 0.2 | 0.8 | -4.4 | 7.3 | -13.3 |
| San Francisco | 0.9 | 1.7 | 1.8 | 4.7 | -4.9 | 9.3 | -18.4 |
| Seattle | 0.8 | 0.9 | 1.3 | 3.0 | -6.6 | -3.6 | -14.3 |
| Tampa | 0.1 | 0.7 | 1.1 | 3.6 | -6.6 | -4.0 | -18.8 |
| Washington, D.C. | 0.5 | 0.4 | 1.5 | 3.6 | -0.4 | 4.7 | -10.8 |
