Global| Nov 05 2013U.S. Home Prices Continue to Firm
by:Tom Moeller
|in:Economy in Brief
Summary
According to the CoreLogic House Price Index, home prices including distressed sales inched up just 0.2% during September after a 0.7% August rise. The increase was the slowest since January. The y/y gain, however, improved to 12.0%, [...]
According to the CoreLogic House Price Index, home prices including distressed sales inched up just 0.2% during September after a 0.7% August rise. The increase was the slowest since January. The y/y gain, however, improved to 12.0%, its quickest since early-2006. Haver Analytics constructs a seasonally adjusted index which adjusts home prices for the slowdown expected following the peak spring selling season. This index rose 1.0% in September, its strongest gain since May.
House prices excluding distressed sales improved 0.3% during September following a 0.6% August rise. The year-to-year increase rose to another peak of 10.8%. The seasonally adjusted index excluding distressed sales gained 1.2% during September after a 1.0% August increase.
The CoreLogic House Price Index is a repeat-sales index that tracks increases and decreases in sales prices for the same homes over time, which provides a more accurate "constant-quality" view of pricing trends than basing analysis on all home sales. The CoreLogic HPI covers 6,070 ZIP codes (58 percent of total U.S. population).
| CoreLogic House Price Indexes (% Chg.) | Sep | Aug | Jul | Y/Y | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|---|---|
| National HPI including Distressed Sales | 0.2 | 0.7 | 1.2 | 12.0 | 3.8 | -4.0 | -0.4 |
| Seasonally Adjusted HPI, by Haver Analytics | 1.0 | 0.9 | 0.8 | -- | -- | -- | -- |
Tom Moeller
AuthorMore in Author Profile »Prior to joining Haver Analytics in 2000, Mr. Moeller worked as the Economist at Chancellor Capital Management from 1985 to 1999. There, he developed comprehensive economic forecasts and interpreted economic data for equity and fixed income portfolio managers. Also at Chancellor, Mr. Moeller worked as an equity analyst and was responsible for researching and rating companies in the economically sensitive automobile and housing industries for investment in Chancellor’s equity portfolio. Prior to joining Chancellor, Mr. Moeller was an Economist at Citibank from 1979 to 1984. He also analyzed pricing behavior in the metals industry for the Council on Wage and Price Stability in Washington, D.C. In 1999, Mr. Moeller received the award for most accurate forecast from the Forecasters' Club of New York. From 1990 to 1992 he was President of the New York Association for Business Economists. Mr. Moeller earned an M.B.A. in Finance from Fordham University, where he graduated in 1987. He holds a Bachelor of Arts in Economics from George Washington University.
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