2017 Economic Calendar
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S&P Corelogic Case-Shiller HPI  
Released On 8/29/2017 9:00:00 AM For Jun, 2017
PriorPrior RevisedConsensusConsensus RangeActual
20-city, SA - M/M0.1 %0.3 %0.0 % to 0.8 %0.1 %
20-city, NSA - M/M0.8 %0.9 %0.7 %
20-city, NSA - Yr/Yr5.7 %5.8 %5.4 % to 5.9 %5.7 %

Highlights
Home-price appreciation is flat, at least it was in June based on last week's FHFA house price index and now today's Case-Shiller 20-city index which edged only 0.1 percent higher. The unadjusted index, reflecting increased housing activity during the summer, rose 0.7 percent with the year-on-year rate at 5.7 percent which is unchanged from May but down 2 tenths from earlier in the year.

Home prices in Chicago and Cleveland have been coming down in recent months with New York and Atlanta also weakening. Western cities along with Miami and Tampa in Florida continue to show strength. Strongest appreciation by far is in Seattle at a year-on-year 13.4 percent followed by Portland at 8.2 percent. Cleveland brings up the rear at 2.9 percent with Washington at 3.1 percent.

Despite the softening, home prices remain a center of strength in what is a low interest-rate, low inflation economy. Lower prices won't be adding to household wealth but they will give a boost to home sales and will offer first timers a greater chance at buying a home.

Recent History Of This Indicator
Case-Shiller has been solid but still lagging other data on home prices. The consensus for June's 20-city adjusted index is plus 0.3 percent vs a 0.1 percent gain and a 0.2 percent decline in the two prior months. Year-on-year, the unadjusted index is expected to come in at 5.8 percent vs the prior 5.7 percent.

Definition
The S&P Corelogic Case-Shiller home price index tracks monthly changes in the value of residential real estate in 20 metropolitan regions across the U.S. Composite indexes and regional indexes measure changes in existing home prices and are based on single-family home re-sales. The expanded 20-city measure is the key series. The original series (still available) covered 10 cities. A national index is published quarterly. The indexes are based on single-family dwellings with two or more sales transactions. Condominiums and co-ops are excluded as is new construction. The Case-Shiller Home Price Indices are published monthly on the last Tuesday of each month at 9:00 AM ET. The latest data are reported with a two-month lag. For example data released in January 2016 are for November. Note that S&P, citing large seasonal swings in the housing sector and the risk of adjustment inaccuracies, urges readers to track unadjusted data in this report.  Why Investors Care
 
[Chart]
The Case-Shiller Home Price Index is based on repeat transactions. That is, appreciation or depreciation is for same houses resold. This index is probably the best measure of changes in home prices. While it covers the gamut of types of houses sold, it is limited to metropolitan areas.
Data Source: Haver Analytics
 
 

2017 Release Schedule
Released On: 1/312/283/284/255/306/277/258/299/2610/3111/2812/27
Release For: NovDecJanFebMarAprMayJunJulAugSepOct
 


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