Econoday Economic Report: FHFA House Price Index July 21, 2011

2011 Economic Calendar

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FHFA House Price Index

Released On 7/21/2011 10:00:00 AM For May, 2011

	Prior	Actual
M/M change	0.8 %	0.4 %
Y/Y change	-5.7 %	-6.3 %

Highlights
Home prices in in May rose for the second month in a row. The FHFA purchase only house price index rose 0.4 percent in May, following a 0.2 percent increase in April (originally up 0.8 percent).

On a year-on-year basis, the FHFA HPI is down 6.3 percent versus down 6.4 percent in April.

For the nine Census Divisions, seasonally adjusted monthly price changes for month-ago May ranged from minus 1.0 percent in the West South Central Division to plus 2.0 percent in the Mountain Division. Six of the nine Census Divisions improved in May.

The next update on home prices is with the Case-Shiller home price index out on Tuesday, July 26.

Definition
The Federal Housing Finance Agency (FHFA) House Price Index (HPI) covers single-family housing, using data provided by Fannie Mae and Freddie Mac. The House Price Index is derived from transactions involving conforming conventional mortgages purchased or securitized by Fannie Mae or Freddie Mac. Why Investors Care

The FHFA Home Price Index captures price data for an important segment of the housing market - home purchases with mortgages financed or bundled by federal housing agencies. However, this HPI does not cover high end housing.
Data Source: Haver Analytics

2011 Release Schedule

Released On: 1/25 2/24 3/22 4/21 5/25 6/22 7/21 8/24 9/22 10/25 11/29 12/22

Release For: Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct