Recent Updates
- Malaysia: Mineral Production, Imports & Exports (Sep), PPI (Oct)
- Singapore: Housing & Bridging Loans (Q3)
- China: Manufacturing PMI, Nonmanufacturing PMI, Steel PMI (Nov), Local Government Debt (Oct)
- Australia: CPI (Oct)
- more updates...
Economy in Brief
U.S. FHFA House Prices Rebound a Marginal 0.1% in September
U.S. house prices ticked up 0.1% m/m in Septembe...
U.S. Gasoline & Oil Prices Slide
Retail gasoline prices declined last week to $3.53 per gallon (+4.6% y/y)...
Belgium Inflation- Some Grounds for Optimism...More for Caution
The Belgian CPI has strong correlations with both German and EMU-wide inflation measures...
Texas Manufacturing Activity Index Remains Weak in November
The general business activity index was -14.4 this month...
German Confidence for December Remains Extremely Weak
For December, the confidence measure logs a -40.2 reading...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
The Big Risk in 2023 For the Fed & Investors---Slowdown in Inflation Proves To Be "Transitory"
Initial Thoughts on Protests in China
State Coincident Indexes in October 2022
State Labor Markets in October 2022
No Responsibility without Authority: Place Control of Monetary Policy in the Executive Branch?
by Tom Moeller January 25, 2022
• Monthly increases have been strong & steady for four months.
• Regional house price increases vary.
• Prices surge in South Atlantic & East North Central regions.
The Federal Housing Finance Agency (FHFA) House Price Index increased 1.1% (17.5% y/y) in November, repeating the unrevised October gain. The home price series dates back to January 1991.
Year-to-year price gains were strongest in the Mountain region (22.8% y/y), South Atlantic states (20.4% y/y), East South Central (19.8% y/y), Pacific (18.9% y/y) and the West South Central (18.1% y/y) regions.
Annual house price gains were less strong, but still double-digit in New England (15.4% y/y), the Middle Atlantic (14.0% y/y), East North Central (13.9% y/y) and West North Central (13.3% 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 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 %) |
Nov | Oct | Sep | Nov Y/Y | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|
| Total | 1.1 | 1.1 | 0.9 | 17.5 | 7.9 | 5.2 | 6.3 |
| New England | 0.8 | -0.0 | 1.5 | 15.4 | 8.2 | 4.7 | 5.1 |
| Middle Atlantic | 0.7 | 1.1 | 0.7 | 14.0 | 7.4 | 4.4 | 5.1 |
| East North Central | 0.9 | 0.7 | 1.0 | 13.9 | 7.8 | 5.3 | 6.2 |
| West North Central | 0.5 | 0.7 | 0.7 | 13.3 | 7.2 | 5.0 | 5.7 |
| South Atlantic | 1.9 | 1.4 | 0.7 | 20.4 | 8.2 | 5.5 | 6.7 |
| East South Central | 1.7 | 1.7 | 0.9 | 19.8 | 8.2 | 5.8 | 5.9 |
| West South Central | 1.2 | 0.7 | 1.8 | 18.1 | 6.4 | 4.5 | 5.0 |
| Mountain | 1.0 | 1.2 | 0.5 | 22.8 | 10.0 | 7.0 | 8.9 |
| Pacific | 0.7 | 1.7 | 0.4 | 18.9 | 8.1 | 4.6 | 7.1 |
