2012 Economic Calendar
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S&P Corelogic Case-Shiller HPI  
Released On 5/29/2012 9:00:00 AM For Mar, 2012
PriorPrior RevisedConsensusConsensus RangeActual
20-city, SA - M/M0.2 %0.1 %0.3 %-0.2 % to 0.7 %0.1 %
20-city, NSA - M/M-0.8 %-0.8 %0.0 %
20-city, NSA - Yr/Yr-3.4 %-3.5 %-2.7 %-3.0 % to -2.0 %-2.6 %

Home prices were on the rise in March and February, up 0.1 percent in March for the adjusted composite 20 index and up 0.2 percent in February. This is the first back-to-back monthly gain since the spring of 2010. The year-on-year rate of minus 2.6 percent is the best reading since December 2010. Phoenix is really on the rebound with Miami, Tampa, Minneapolis and Dallas all showing a run of stand-out strength. But Atlanta shows continued contraction as does Chicago and New York.

Unadjusted data show no monthly change in March and, like the adjusted data, minus 2.6 percent contraction for the year-on-year rate. Home prices may finally be moving up from the bottom, and more recent data on existing home sales show a sharp upward spike in prices underway, the result of fewer distressed properties on the market.

Consensus Outlook
The S&P/Case-Shiller 20-city home price index (SA) in February rose a monthly 0.2 percent, following a 0.1 percent dip the prior month. The year-on-year rate (unadjusted) improved to minus 3.5 from a revised minus 3.9 in February. As usual, the numbers vary sharply by city. On the plus side, Phoenix continued a string of pluses, rising 2.1 percent in the latest month. Miami and Minneapolis also are having a nice run upward. On the downside, Atlanta continued its slide, dipping 2.0 percent in February. Also with negative consecutive strings are Chicago, New York, and Cleveland.

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 nation. Composite indexes and regional indexes measure changes in existing home prices and are based on single-family home resales. Condominiums and co-ops are excluded as is new construction.  Why Investors Care
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

2012 Release Schedule
Released On: 1/312/283/274/245/296/267/318/289/2510/3011/2712/26
Release For: NovDecJanFebMarAprMayJunJulAugSepOct

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