2017 Economic Calendar
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FHFA House Price Index  
Released On 9/21/2017 9:00:00 AM For Jul, 2017
PriorPrior RevisedConsensusConsensus RangeActual
M/M change0.1 %0.4 %0.1 % to 0.5 %0.2 %
Y/Y change6.5 %6.6 %6.3 %

Indications on home prices have been cooling including July's FHFA house price index which managed only a 0.2 percent gain with the year-on-year rate down 2 tenths to 6.3 percent. Regional data show both the Mountain and Pacific states still out in front at yearly rates of plus 8.2 percent each. Lagging but still respectable is the Mid-Atlantic at plus 4.4 percent.

Though slowing, price growth of roughly 6 percent is still very strong especially in a low interest rate, low inflation economy. And slowing appreciation will help improve affordability and perhaps give a boost to sales as well. Today's report will likely limit expectations for strength in next week's Case-Shiller data which likewise have been slowing.

Consensus Outlook
The FHFA house price index has been slowing though from strong levels, up only 0.1 percent in the June report with Econoday's consensus for July, however, at a solid 0.4 percent gain. Year-on-year rates have also been slowing but are still trending in the high 6 percent range.

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. In contrast to other house price indexes, the sample is limited by the ceiling amount for conforming loans purchased by these government-sponsored enterprises (GSE). Mortgages insured by the FHA, VA, or other federal entities are excluded because they are not "conventional" loans. The FHFA House Price Index is a repeat transactions measure. It compares prices or appraised values for similar houses.  Why Investors Care
The FHFA House 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

2017 Release Schedule
Released On: 1/252/233/224/255/246/227/258/229/2110/2511/2812/21
Release For: NovDecJanFebMarAprMayJunJulAugSepOct

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