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Economy in Brief
Import and Export Prices Increase
Import prices rose 0.2% during November (-1.3% y/y)...
U.S. Business Inventories Rise While Sales Slip
Total business inventories increased 0.2% (3.1% y/y) during October...
Friday 13 of December 2019: An unlucky day for Japan’s Tankan
The manufacturing barometer, which is considered the bellwether of this index, fell to zero in Q4 2019 from 5 in Q3...
U.S. Financial Accounts Show Larger Government Borrowing, Somewhat Less Household Borrowing
Total borrowing in U.S. financial markets rose to $4,266 billion in Q3 2019...
U.S. Producer Prices Are Unexpectedly Tame; Core Prices Weaken
The Producer Price Index for final demand was unchanged during November (1.1% y/y)...
by Tom Moeller July 24, 2018
The Federal Housing Finance Agency's (FHFA) index of U.S. house prices during May increased 0.2% (6.4% y/y), the same as in April which was revised from 0.1%. Over the past three months, prices have risen at a 2.5% annual rate, the weakest rate of growth since 2012.
Around the country, monthly home price depreciation occurred during May in the East North Central (+5.8% y/y) and the Middle Atlantic (+5.0% y/y) regions.
Over the last year, home price appreciation in the Mountain (9.1% y/y) and Pacific (7.6% y/y) regions exhibited the strongest rates of growth.
Growth rates in the South Atlantic (7.2% y/y) and New England (5.7% y/y) regions of the country were more moderate.
Weaker rates of home price increase were observed in the Middle Atlantic (5.0% y/y) and West South Central (4.9% y/y) regions of the country.
The FHFA house price index is a weighted purchase-only index that measures average price changes in repeat sales of the same property. An associated quarterly index also includes refinancings on the same kinds of properties. The indexes are based on transactions involving conforming, conventional mortgages purchased or securitized by Fannie Mae or Freddie Mac. Only mortgage transactions on single-family properties are included. The FHFA data are available in Haver's USECON database.
| FHFA U.S. House Price Index, Purchase Only (SA %) |
May | Apr | Mar | May Y/Y | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|
| Total | 0.2 | 0.2 | 0.1 | 6.4 | 6.7 | 6.1 | 5.4 |
| Mountain | 0.3 | 0.7 | 0.9 | 9.1 | 8.8 | 7.9 | 7.7 |
| Pacific | 0.2 | 0.1 | -0.3 | 7.6 | 8.8 | 8.1 | 7.8 |
| South Atlantic | 0.6 | 0.5 | 0.1 | 7.2 | 7.0 | 7.0 | 6.2 |
| East South Central | 1.5 | 0.3 | -0.4 | 7.1 | 5.9 | 5.1 | 4.6 |
| East North Central | -0.5 | 0.7 | -0.1 | 5.8 | 6.1 | 5.4 | 4.4 |
| New England | 0.3 | 0.6 | -0.8 | 5.7 | 5.9 | 4.1 | 3.3 |
| West North Central | 0.2 | -0.0 | 0.7 | 5.4 | 5.5 | 5.6 | 4.1 |
| Middle Atlantic | -0.2 | -0.8 | 1.5 | 5.0 | 5.0 | 3.7 | 2.6 |
| West South Central | 0.4 | -0.0 | -0.3 | 4.9 | 6.6 | 6.0 | 6.2 |
|
