2011 Economic Calendar
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S&P Case-Shiller HPI
Released On 7/26/2011 9:00:00 AM For May, 2011
PriorPrior RevisedActual
20-city, SA - M/M.6 %-0.1 %-.1 %
20-city, NSA - M/M.6 %1.1 %
20-city, NSA - Yr/Yr-4.2 %-4.5 %
10-city, not SA - M/M change0.8 %0.6 %1.1 %
10-city, Seas. Adj. - M/M change0.0 %0 %0.1 %
10-city, not SA - Yr/Yr change-3.1 %-3.5 %-3.6 %

Highlights
Home prices show little change in May based on Case-Shiller whose adjusted composite index rose 0.1 percent. This is a three-month average that includes a revised 0.4 percent rise for April and a minus 0.3 percent decline for March. Year-on-year, price contraction deepened slightly to minus 3.6 percent vs April's revised minus 3.4 percent. City by city, the data are split between gains and declines with the West and Florida no longer the center of trouble.

A look at the unadjusted data shows wide gains but May's weather likely gives the month an advantage relative to April. The unadjusted composite 10 index rose 1.1 percent. A look at the year-on-year rate, where seasonal factors are largely neutralized, shows the same minus 3.6 percent rate as the adjusted data.

More recent but less exhaustive data in last week's existing home sales report show strong price gains during June. At 10:00 a.m. ET today, the new home sales report will offer new data on June.

Definition
The S&P/Case-Shiller home price index tracks monthly changes in the value of residential real estate in 20 metropolitan regions across the U.S. The composite indexes and the regional indexes are seen by the markets as measuring changes in existing home prices and are based on single-family home re-sales. The key composite series tracked are for the expanded 20-city composite indexes. 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 data are compiled for S&P by Fiserv, Inc. The S&P/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 2008 were for November 2007.  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
 
 

2011 Release Schedule
Released On: 1/252/223/294/265/316/287/268/309/2710/2511/2912/27
Release For: NovDecJanFebMarAprMayJunJulAugSepOct
 


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