Recent Updates
- US: Consumer Sentiment (Jan-prelim), Mfg & Trade Inventories & Sales (Nov), IP & Capacity Utilization, Adv Retail Sales, Producer Prices (Dec)
- US: Industrial Production Detail (Dec)
- US: Producer Price Indexes by Commodity Detail (Dec)
- more updates...
Economy in Brief
Empire State Manufacturing Index Declines in January
The Empire State Manufacturing Index of General Business Conditions decreased to 3.5 in January...
U.S. Industrial Production Continues Recovery
Industrial production advanced 1.6% in December...
U.S. PPI Rose 0.3% in December
The Producer Price Index for final demand rose 0.3% (0.8% y/y) in December...
U.S. Business Inventories Accumulate during November as Sales Weaken
Total business inventories increased 0.5% during November (-3.2% y/y)...
The EMU Trade Surplus Stabilizes
Both exports and imports have been regaining momentum...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Gerald D. Cohen August 27, 2019
The Federal Housing Finance Agency (FHFA) Price Index edged up 0.1% in June, following a 0.2% increase in May. Over the last year, home prices are up 4.8%, the slowest rate of increase and the first time home price appreciation has been below 5.0% year-on-year since late 2014. Over the last six months, prices have increased at a 4.0% annual rate. Based on this measure, home prices are up 21.9% from their 2007 peak. Adjusted for consumer price inflation, home prices are unchanged from 2006-07 levels.
Home prices increased month-on-month in five of the nine census divisions, with price increases ranging from 0.1% in the West North Central and Mountain regions (4.5% and 5.7% year-on-year respectively) to 1.0% in the West South Central (4.8% y/y). Prices were unchanged in the South Atlantic region (5.6% y/y), while they fell in three regions, ranging between the East North Central, which was down 0.1% (+4.9% y/y) and New England -0.6% (+3.6% y/y).
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 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 %) |
Jun | May | Apr | Jun Y/Y | 2018 | 2017 | 2016 |
---|---|---|---|---|---|---|---|
Total | 0.1 | 0.2 | 0.4 | 4.8 | 6.7 | 6.5 | 6.0 |
New England | -0.6 | 0.2 | 0.5 | 3.6 | 5.3 | 5.8 | 4.1 |
Middle Atlantic | -0.3 | 0.5 | 0.0 | 3.5 | 5.5 | 4.8 | 3.6 |
East North Central | -0.1 | 0.4 | 0.5 | 4.9 | 6.5 | 6.0 | 5.2 |
West North Central | 0.1 | 0.3 | -0.3 | 4.5 | 6.2 | 5.3 | 5.5 |
South Atlantic | 0.0 | 0.4 | 0.3 | 5.6 | 7.3 | 6.7 | 6.8 |
East South Central | 0.6 | -0.9 | 1.0 | 4.7 | 6.2 | 5.7 | 5.0 |
West South Central | 1.0 | -0.4 | 0.4 | 4.8 | 5.4 | 6.4 | 5.6 |
Mountain | 0.1 | -0.3 | 1.3 | 5.7 | 9.2 | 8.6 | 7.8 |
Pacific | 0.3 | 0.4 | 0.6 | 4.3 | 7.6 | 8.6 | 8.0 |
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