2017 Economic Calendar
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S&P Corelogic Case-Shiller HPI  
Released On 10/31/2017 9:00:00 AM For Aug, 2017
PriorPrior RevisedConsensusConsensus RangeActual
20-city, SA - M/M0.3 %0.4 %0.5 %0.1 % to 0.6 %0.5 %
20-city, NSA - M/M0.7 %0.6 %0.6 % to 0.8 %0.4 %
20-city, NSA - Yr/Yr5.8 %6.0 %5.7 % to 6.3 %5.9 %

Highlights
Case-Shiller home prices continue to move gradually higher, up 0.5 percent for August's 20-city adjusted index. The year-on-year rate of 5.9 percent is a 3-year high. The report shows broad-based strength: San Diego up 1.0 percent in the month, Charlotte and Las Vegas both up 0.9 percent, and Cleveland up 0.8 percent. Seattle is far out in front on a yearly basis, up 13.3 percent with most of the 20 cities in the mid-to-high single digits and with Washington DC in the rear at 3.4 percent.

The FHFA house price index has been showing a bit more strength than Case-Shiller but it's the trends of the two reports that's important, and that is climbing. Home price appreciation is an increasingly important source of household wealth in what has been a low interest rate, low wage growth economy.

Recent History Of This Indicator
Case-Shiller home prices moved higher in July and more of the same, following strength in the prior week's FHFA house price index, is expected for September. Econoday's consensus is calling for a 0.5 percent gain in the 20-city adjusted index on top of July's 0.7 percent rise. August is a busy month for home sales and is reflected in the consensus for the unadjusted monthly index which is slightly higher, at 0.6 percent gain. The year-on-year rate is seen up 2 tenths to 6.0 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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