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- China: 70-City Property Prices (Sep), Capacity Utilization, GDP (Q3)
- US: Regional Retail Sales (Sep)
- Spain: Motor Vehicle Registrations (Sep)
- Canada Regional: CPI by Province (Sep), Retail Trade by Province (Aug)
- Canada: CPI (Sep), Retail Trade (Aug)
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Economy in Brief
Canadian Retail Sales Weaken As Inflation Slows
Canada's retail sales show relatively widespread deceleration...
U.S. Leading Economic Indicators Strengthen
The Conference Board's Composite Index of Leading Economic Indicators increased 0.5% (7.0% y/y) during September...
Philadelphia Fed Manufacturing Growth Continues; Pricing Pressure Eases
The Philadelphia Federal Reserve reported that its General Factory Sector Business Conditions Index dipped to 22.2 during October...
U.S. Initial Claims for Unemployment Insurance Ease
Initial claims for unemployment insurance fell to 210,000 (-8.7% y/y) during the week ended October 13...
U.K. Retail Sales: Doing Well-As-Can-Be-Expected Despite September Drop
U.K. retail sales and growth have all held up remarkably well- so far...
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 |
